In 2012-2020, Uzbekneftegaz will invest $50 million to black oil exploration
In 2012-2020, Uzbekneftegaz will invest $50 million to black oil exploration in Southern and Eastern Uzbekistan. This year they have started black oil and bitumen prospecting in the Korsagly-Dasmanaginsky zone of the Surkhandarya region. Before the end of the year they are going to complete the elaboration of the geological exploration program for the prospecting and exploration of the black oil beds at the Besharcha site in the Surkhandarya region, and the geological exploration program for the Fergana region. The realization of the geological exploration program is expected to result in additional extraction of up to 300,000 tons of oil because of geological and technical measures. The main partners for these technologies attraction can be CNPC, KNOC, Delta Oil Company, Eriell Corporation, Tethys Petroleum Ltd.
Uzbekneftegaz claims that the state is provided with explored oil reserves for 21 years and gas condensate reserves for 25 years under the active volume of hydrocarbons production. 60% of the volume are active, easily extractable reserves. The rest need additional drilling, including with horizontal and branch holes, and the use of high technologies. Uzbekneftegaz capacities are able to provide annual production of 70 billion cubic m of gas and 8 million tons of oil.
Translated by Nadezhda Poltoratskaya
