ONGC and Petrovietnam to cooperate in development of Uzbek deposits

The Indian Oil & Natural Gas Company (ONGC) and Vietnamese Petrovietnam Exploration & Production (PVEP) are going to cooperate in the development of oil and gas deposits in the Ustyurt region in North-West Uzbekistan, the source close to the project reported on Wednesday.

ONGC and PVEP signed the memorandum of understanding for joint development of Kossor investment block, the source specified. In the framework of the document, in Q1, 2014 ONGC will submit its proposals about the project and the parties will start discussing further cooperation.

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