Uzbekneftegaz

Uzbekneftegaz
State owned
Industry oil and gas exploration and extraction
Founded 3 May 1992 (1992-05-03)
Headquarters Tashkent, Uzbekistan
Key people
 Shokir Fayzullayev, Chairman of the Management Committee; Gulomjon Ibragimov, Chairman of the Board
Products petroleum products, petrochemicals
Revenue US$3 billion (2014)
Number of employees
 121,000 (2014)
Website http://www.ung.uz

The national holding company Uzbekneftegaz (Uzbek: "Oʻzbekneftegaz" MXK, Russian: НХК "Узбекнефтегаз") is a state-owned holding company of Uzbekistan's oil and gas industry.

History

Uzbekneftegaz was established in May 3, 1992. In 1998, it was transformed into national holding company.

Operations

Bukhara oil refinery

Uzbekineftegaz leads a consortium of Korea National Oil Corporation, China National Petroleum Corporation and Lukoil exploring and developing gas condensate fields in the Aral Sea.[1] In February 2008, Uzbekneftegaz and consortium led by the Korea Gas Corporation established the joint venture Uz-Kor Gas Chemical to develop the Surgil gas field, containing about 133 billion cubic metres (4.7 trillion cubic feet) of natural gas, and build the Ustyurt gas-chemical complex.[2] It will produce 4 billion cubic metres (140 billion cubic feet) of gas per year and about 500,000 tons per year of plastics as well as 100,000 tons of petrol which is derived as a bi-product in the process.[3]

Together with another Korean company, Korea National Oil Corporation, Uzbekneftegaz explores Namangan-Tergachi and Chust-Pap oil fields in eastern Uzbekistan.[4] In August 2008, Uzbekneftegas signed a cooperation agreement with Petrovietnam.[5] It also cooperates with Lukoil in the Kandym-Khausak-Shady-Kungrad project to develop several natural gas fields in Uzbekistan.[6][7]

Uzbekneftegaz together with China National Petroleum Corporation owns and operates the Uzbek section of the Central Asia–China gas pipeline.[8] They also have a joint venture for developing the Mingbulak oilfield.[9]

Together with Sasol and Petronas, Uzbekneftegaz develops Uzbekistan GTL, a gas-to-liquids (GTL) project.[10][11]

In addition, Uzbekneftegaz has a production sharing agreement with Gazprom on gas exploration, joint ventures with Prista Holdings on motor oil and lubricants production, and with Ariston Thermo Group on heating boilers production.

References

  1. ↑ "Group charts Aral Sea course". Upstream Online. NHST Media Group. 2006-08-30. Retrieved 2009-07-19.
  2. ↑ "Kogas 'eyeing Uzbek gas field'". Upstream Online. NHST Media Group. 2008-02-22. Retrieved 2008-04-19.
  3. ↑ "S. Korean Venture Inks $2.5 Bn Uzbek Gas Deal". The Gazette of Central Asia. Satrapia. 2012-05-19. Retrieved 2012-06-08.
  4. ↑ "KNOC, Uzbekneftegaz reach oil field exploration deal". Embassy of Uzbekistan. 2008-11-11. Retrieved 2009-07-19.
  5. ↑ "Vietnam eyes Uzbekistan gas". Upstream Online. NHST Media Group. 2008-08-22. Retrieved 2008-04-19.
  6. ↑ Nikiforov, Sergey (2008). "In the mainstream". Oil of Russia. Lukoil (1). Retrieved 2008-08-22.
  7. ↑ "LUKoil company to sell oil, gas from Uzbekistan" (750). New Europe. 2007-10-14. Retrieved 2008-08-22.
  8. ↑ "Uzbek joins CNPC in pipeline deal". Upstream Online. NHST Media Group. 2008-04-14. Retrieved 2010-10-23.
  9. ↑ "CNPC sets sights on Uzbek riches". Upstream Online. NHST Media Group. 2008-10-20. Retrieved 2009-07-19.
  10. ↑ "Sasol signs Uzbekistan GTL pact". Upstream Online. NHST Media Group. 2009-07-15. Retrieved 2009-07-18.
  11. ↑ Izundu, Uchenna (2009-07-17). "Sasol to establish GTL plant in Uzbekistan". Oil & Gas Journal. PennWell Corporation. 107. Retrieved 2009-07-18.
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