Uzbekgeofizika and Rosgeology signed a geological services agreement to identify hydrocarbon potential in Uzbekistan Tuesday, according to the Russian holding.
Rosgeology will reportedly conduct refining of the geological model, study the prospects of oil and gas potential and evaluate the hydrocarbon potential of the Aral Sea and the adjacent territory.
The agreement was signed as part of the Subsoil use cooperation agreement, which the State Committee of Uzbekistan on Geology and Mineral Resources and Rosgeology entered into in February.
By a decree of the Government of Uzbekistan dated April 23, Rosgeology was determined as the contractor of the Program for geological study of the potential of the Aral Sea and its adjacent territories for hydrocarbon raw materials.
To implement the program and develop other areas of cooperation, Rosgeology has set up a subsidiary Rosgeo Uzbekistan. It will be headed by Botir Khodjaev, the former adviser to the Prime Minister and Minister of Economy and Industry of Uzbekistan, the holding said.
