In Nukus, capital of Karakalpakia, Uzbekistan, a joint extended organisational and technical conference was held on 24 January 2007 to address the questions of conducting geological survey works under the “Agreement concerning the main principles for conducting geological studies of underground resources in the investment areas of the Ustyurt Region in Uzbekistan”.
The conference was attended by leaders and chief specialists from ZAO Zarubezhneftegaz, NHC Uzbekneftegaz, OAO INIRNIGM and OOO Saratovneftegeofizika, representatives of Karakalpak ministries and departments, and specialists from contracting organisations.
At the conference the participants declared that the preparatory period was over and they were ready to embark on active geological survey works under the agreement. In the next few days, transportation of equipment to the work area, and mobilisation of technical specialists, will begin.
“A project of such scale requires full mutual understanding and clear agreement between all the participants. We are ready to start the active geological survey phase and we have gathered here today to set our watches”, said Maksut Aderdjanov, Head of OAO Zarubezhneftegaz’ representation in Uzbekistan.
The “agreement concerning the main principles for conducting geological surveys of underground resources in the investment areas of the Ustyurt Region of Uzbekistan”, between OAO Gazprom and the National Holding Company Uzbekneftegaz, was signed on 25 January 2006.
During 2006, the agreement was approved by the Board of OAO Gazprom and the Uzbek Government. A technical and economic basis for the project was prepared during 2006. In December 2006, OAO was issued with the licences necessary for allowing practical realisation of the works.
The agreement plans for geological exploration (GEW) works to be conducted in seven investment areas: Aktumsuk, Kuanysh, Agyin, Nasambek, West Ugrin, Akchalak and Shakhpakhty, with a total area of some 38,100 sq km.
The total investment in the GEW is assessed at USD400 million.