Russian Zarubezhneft and Uzbekneftegaz signed an agreement on the basic terms of project implementation in the territory of Uzbekistan. 

The agreement is aimed at increasing oil production in the oil fields “Khartoum”, “Eastern Khartoum” and “Southern Alamyshik” of the company “Andijonneft”. In order to implement the project, the parties have established a joint venture “Andijonpetro”.

“The signed agreement is another step in successful cooperation of Zarubezhneft and Uzbekneftegaz within the framework of establishment of the JV “Andijonpetro” in March to implement a project for increasing oil production at the leading oil fields in the Fergana valley,” the Russian company said.

For information, “Andijonneft” includes 25 oil and gas fields. According to the company, all deposits are at the final stage of development, where oil has been extracted for 50-100 years.