Azerbaijan's SOCAR, Uzbekneftegas Talk Creation Of Joint Venture

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 18. Azerbaijan State Oil Company (SOCAR) and Uzbekneftegaz JSC, state-owned holding company of Uzbekistan's oil and gas industry, have discussed the creation of a joint venture for gas trading, trend reports via Uzbekneftegaz.

The issue was discussed at the meeting between management of Uzbekneftegaz and the delegation headed by President of SOCAR Rovshan Najaf.

Particular interest was expressed for the creation of a "SOCAR Trading" joint venture.

The sides also discussed the project of modernization of the Uzbek Bukhara Refinery, as well as joint development at fields both on the territory of Uzbekistan and Azerbaijan.

At the same time, SOCAR's management has expressed its readiness to become an operator of energy projects in Uzbekistan.

Meanwhile, earlier this year, Board Chairman of Uzbekneftegaz company Bahodir Siddikov told trend that the creation of this JV will lift the cooperation to the fundamentally new level.

"We know about the very successful experience of SOCAR Trading. I believe that in the near future we'll see such serious stages," Siddikov added.


Trend News Agency

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