KazMunayGas signed an Agreement on cooperation with Uzbekneftegas in the oil and gas sphere
On March 21-24, 2017 JSC NC KazMunayGas (hereinafter – KMG) and NHC Uzbekneftegas signed an Agreement on cooperation in the oil and gas sphere within the framework of the visit of the Government delegation of the Republic of Uzbekistan to Astana.
In accordance with the agreement between KMG and UNG it has been agreed that the Russian oil would be transited to Uzbekistan. Within Uzbekistan’s modernization projects in the oil refining industry a possibility of reconstruction and expansion of KazTransOil JSC oil pipelines in the direction of Uzbekistan will be examined. As for KMG, it will provide technical support to UNG in modernization projects of the existing refineries, and also review an opportunity of rendering technical assistance in the construction of a new refinery in Uzbekistan.
The parties have also agreed upon the cooperation in the sphere of hydrocarbons exploration and production, entering mutual oil and gas projects in both countries, development of oil products marketing in the countries of the Middle Asia and assistance in the logistics of UNG oil products to the external markets using KMG’s logistic infrastructure.
According to Daniyar Berlibayev, KMG’s Executive Vice-President for Oil Transportation, Refining and Marketing, “this agreement shows mutual interest in cooperation development between the companies in the oil and gas industry and corresponds to a new stage of relationship of Kazakhstan and Uzbekistan in the economic sphere”.
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