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The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.
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Petrovietnam to explore new block in Ustyurt region
http://uzdaily.com of 6/15/2012 - Petrovietnam Exploration & Production (PVEP, Vietnam) will carry out geologic exploration at Molabaur investment block of Ustyurt region of Uzbekistan with the cost of US$61.6 million in 2012-2017.
President of Uzbekistan Islam Karimov approved an agreement between Uzbekneftegaz national holding company and PVEP on conducting geologic exploration within five years at Molabaur investment block with the area of 3,600 km.
After the foreign investor fully implements its obligation on the agreement and opening of commercial oil and gas fields, the sides will hold negotiations on signing of product-sharing agreement in established order.
The project operator is Kossor Operating Company LLC, which conducts geologic exploration in Kossor block in Ustyurt region.
Petrovietnam and Uzbekneftegaz signed agreement on main principles of geologic exploration within five years at Kossor investment block in Ustyurt region in February 2010.
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