Uzbekneftegaz, SOCAR consider issue of creating joint venture PHOTO

Uzbekneftegaz leadership and Azerbaijan’s SOCAR president Rovshan Najaf considered the issue of creating a SOCAR Trading joint venture between the two companies.

The sides met within the framework of the first day of the 25th Anniversary International Oil and Gas Exhibition of Uzbekistan - OGU 2023, Uzbekistan Daily reports.

At the beginning of the meeting, the Uzbek side thanked the SOCAR president for his interest in strengthening cooperation between the two companies.

During the meeting, the importance of strengthening and developing relations in the areas of "Upstream" and "Downstream" was emphasized.

Particular interest was shown in participation in the project "Modernisation of the Bukhara Oil Refinery", as well as joint development at the fields both in Uzbekistan and Azerbaijan. At the same time, the management of SOCAR expressed readiness to take part in service contracts and act as an operator on the territory of Uzbekistan.

In turn, the Uzbek side thanked the representatives of SOCAR for their interest in developing potential cooperation between the companies and also stressed the importance of developing renewable energy areas in compliance with environmental standards.

In this regard, close cooperation in the development of this area was proposed.

As a result of the meeting, agreements were reached on further study of the prospects for cooperation in all areas and to continue the development of all joint projects at the working level.

The exhibition will continue its work on 19 and 20 May, within the framework of which it is also planned to hold negotiations and meetings both with long-term partners of Uzbekneftegaz, and with potential investors and suppliers of services and equipment.

This event is a single platform for the meeting of industrial companies and business delegations from Uzbekistan, Russia, Azerbaijan, Malaysia, Korea, USA, Great Britain, Germany, Canada.