Adnoc stalls at Adipec. The state-owned oil company will offer advice on downstream and upstream operations to an Uzbek energy company. Victor Besa / The National
Adnoc stalls at Adipec. The state-owned oil company will offer advice on downstream and upstream operations to an Uzbek energy company. Victor Besa / The National
Adnoc stalls at Adipec. The state-owned oil company will offer advice on downstream and upstream operations to an Uzbek energy company. Victor Besa / The National
Adnoc stalls at Adipec. The state-owned oil company will offer advice on downstream and upstream operations to an Uzbek energy company. Victor Besa / The National

Adnoc signs agreement with Uzbek energy producer


Jennifer Gnana
  • English
  • Arabic

State-owned Abu Dhabi National Oil Company (Adnoc) signed an agreement with an Uzbek company to provide strategic advice on upstream and downstream operations.

Adnoc will look to support Uzbekneftegaz’s "growth plans, as it seeks to maximise the value of the country’s oil and gas resources”, Adnoc executive director Omar Suwaina Alsuwaidi said in a statement.

Uzbekneftgaz is the former Soviet state’s oil and gas company and largely explores for hydrocarbon resources in the Aral Sea in joint ventures with Korean, Chinese and Russian firms. According to the World Energy Council, Uzbekistan has proven reserves of around 600 million barrels in place and around 1.1 trillion cubic metres of gas.

Presently, Uzbekneftgaz is executing schemes such as a gas to liquefaction plant (GTL) as well as revamping its Shurtan Gas Chemical Complex.

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The GTL project is expected to be the third-largest in the world when completed and was developed following discussions between Uzbekneftgaz and Abu Dhabi’s International Petroleum Investment Company (Ipic) in 2008. Ipic has since merged with Abu Dhabi strategic investment firm Mubadala. The plant, which is expected to cost around $2.5 billion is set to have a capacity of 1.3 million tonnes to process petroleum products such as diesel, kerosene, naphtha and liquefied petroleum gas. It is being developed by Uzbekneftgaz in an equal consortium with Malaysia’s Petronas and South Africa’s Sasol.

The expansion of the Shurtan Gas Chemical Complex is set to increase the production of polyethylene at the facility to 200,000 tonnes per annum from 125,000 tonnes at present. The value of the project has been pegged at around $400 million.

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Planes grounded by coronavirus

British Airways: Cancels all direct flights to and from mainland China 

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Ai Seoul:  Suspended all flights to China

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Indonesia's Lion Air: Suspending all flights to China from February

South Korea's Asiana Airlines,  Jeju Air  and Jin Air: Suspend all flights

Info

What: 11th edition of the Mubadala World Tennis Championship

When: December 27-29, 2018

Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams

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