O'zlitineftgaz and Schlumberger Oilfield Eastern Limited have signed a Confidentiality Agreement and a Memorandum of Understanding (MoU), Uzbekneftegaz said.
The documents aim at technological cooperation in the field of exploration, development and production optimization at new and existing fields in Uzbekistan, as well as the coordination of projects in line with applicable law.
Under the MoU, the parties may, by mutual consent, engage production capacities and process resources, labor and financial resources, own developments, technologies and know-how for bilateral projects.
In addition, following the talks, the parties agreed on the development of scientific and technological cooperation in the field of field geology and geophysics, field development, processing and transportation of oil, gas condensate and gas, underground gas storage, technological services cooperation for oil and gas companies in Uzbekistan.
In June this year it became known that Uzbekistan intended to hand over 50 fields with falling oil production for development to foreign companies under the risk-service contracts.
