PETRONAS signs MoC with Uzbekistan
Offshore staff
(Malaysia) - Malaysian national oil corporation, PETRONAS, has signed a memorandum of cooperation (MOC) with Uzbekneftegaz National Holding Co. (UNG) to seek opportunities for joint cooperation in the oil and gas sector both in Malaysia and Uzbekistan.
It has also penned a joint study agreement (JSA) with UNG for a technical study to be jointly undertaken by subsidiary PETRONAS Carigali Overseas and UNG in the Baisun Investment Block in Uzbekistan.
The JSA, to be completed in 18 months, would pave the way for the execution of a production sharing agreement for the onshore block.
The MOC and the JSA signal PETRONAS' commitment to establish a long-term presence in the Uzbek oil and gas sector.
Last month, PETRONAS Carigali Overseas joined a consortium of UNG, CNPC International Ltd., Korea National Oil Corp. and Lukoil Overseas Holding Ltd. to undertake exploration in the Uzbek territorial waters of the Aral Sea.
10/07/05