China's CNPC invests $ 212 million in the oil fields development of Uzbekistan

The China National Petroleum Corporation (CNPC) is investing 212 million of dollars in 2011-2015 in the oil development of "Mingbulak" field in Namangan region of Uzbekistan, says the Department of Energy Cabinet of the Republic on Wednesday.

The Department representative has clarified that the decision of the President of Uzbekistan Islam Karimov is approved with the agreement on the basic principles of cooperation for joint development of the "Mingbulak" field and is signed by the national holding company (NHC) "Uzbekneftegaz" with CNPC. The agreement is signed and dated late October of this year.

According to the document, the Chinese company has confirmed the commitment to invest money in the alleged conduct of exploration and development of commercial production of hydrocarbons from the field with access to the full capacity of 200 thousand tons of oil per year. The operator of the project is JV "Mingbulakneft."

02 December 2011
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