BAKU, Azerbaijan, July 29. Uzbekneftegaz and
China's CNTIC discussed accelerating the delivery of three
high-capacity drilling rigs worth more than $40 million to support
the country's efforts to increase hydrocarbon production.
This was reflected in the statement by the Uzbekneftgaz
following a meeting between Uzbekneftegaz Chairman Abdugani
Sanginov and a delegation led by Yu Chunxiao, vice president of
CNTIC.
The companies reviewed the implementation of ongoing joint
projects, including a contract for the supply of three drilling
rigs with a lifting capacity of 450 tons each.
"One of Uzbekneftegaz's key priorities is increasing hydrocarbon
reserves by accelerating geological exploration and drilling at
promising fields while improving production efficiency through the
introduction of modern technologies," the company said in a
statement.
During the talks, Sanginov emphasized the importance of
delivering the drilling equipment ahead of schedule. Under the
current contract, the rigs are due to be delivered in December
2026, but the parties discussed the possibility of expediting
production to complete deliveries by November.
According to Uzbekneftegaz, earlier delivery of the equipment
would allow drilling operations at new wells to begin sooner, help
complete project milestones ahead of schedule and increase natural
gas production.
CNTIC representatives reaffirmed the company's commitment to
expanding its partnership with Uzbekneftegaz and said they would
take the necessary measures to fulfill their obligations under the
existing contracts on time and in accordance with quality
standards.
The meeting concluded with both sides agreeing to maintain close
coordination on technical and organizational matters to ensure the
efficient implementation of joint projects and advance bilateral
cooperation to a new stage.
The discussions come as Uzbekistan continues to prioritize
investment in modern drilling technologies and exploration
activities to replenish hydrocarbon reserves and strengthen
domestic energy production.
