International Oil and Gas Consulting and Software Solutions Provider Beicip Franlab plans to take part in oil and gas exploration activities in Uzbekistan, the “Uzbekneftegaz” JSC press service reported on Monday.

On Sept. 17, the delegation of Beicip Franlab held talks with the leadership of “Uzbekneftegaz”, where issues and prospects for cooperation were discussed.

“During the talks, the possibilities of cooperation within the framework of geological exploration, development of oil and gas fields in Uzbekistan were discussed in detail,” the report said. The parties also considered the prospects for “Uzbekneftegaz” to enter foreign markets and train their personnel in innovation centers of developed countries.

“Following the negotiations, a joint working group was set up to consider in more detail the directions for future cooperation and preparation of proposals,” the company added.

It is worth noting that the capacity of “Uzbekneftegaz” JSC allows, at present, to produce around 70 billion cubic meters of natural gas and 8 million tons of liquid hydrocarbons per year. However, due to depletion of reserves and technological losses, production of hydrocarbons has fallen significantly over the past 15 years. According to official statistics, production of natural gas in Uzbekistan increased by 0.5% in 2017 (56.417 billion cubic meters) and production of oil decreased by 6.3% (806,000 tons).