ELF SIGNS PROTOCOL WITH UZBEKISTAN
Ste. Nationale Elf Aquitaine has signed a protocol with Uzbekistan calling for it to negotiate a contract to explore for and produce oil and gas in the former Soviet republic.
The agreement, signed earlier this month in Tashkent by Uzbek officials and Elf Chairman Loik Le Floch-Prigent following a meeting with Uzbek Republic Pres. Islam Karimov, does not set a deadline for the E&P contract. It also calls for cooperative development of refining, chemical, and pharmaceutical projects, as well as international trading of oil products and natural gas. In addition, Elf agreed to advise the Uzbek Republic on environmental matters.
Uzbekistan produces a sizable volume of natural gas but only about 60,000 b/d of oil. It is believed to have major potential in a number of sparsely explored areas. Parties to the protocol said it is the largest agreement Uzbekistan has signed to date with a foreign oil company.
Copyright 1993 Oil & Gas Journal. All Rights Reserved.