World's Energy

04-08-2009 - Upstream OnLine - Petronas has signed an agreement with Uzbekistan’s national oil and gas company Uzbekneftegaz and South Africa’s Sasol to progress the proposed Uzbek gas-to-liquids project. The heads of agreement follows the positive outcome of a joint pre-feasibility study carried out by the three parties on the proposed project, based on Sasol’s proprietary technology, to produce high-quality transportation fuels from Uzbekistan’s abundant gas reserves. The partners are currently in negotiations with the Uzbekistan government for the detailed requirements of the proposed project and plan to proceeed to the next phase of project implementation, including the establishment of a joint-venture company. Petronas is already actively involved in a number of upstream ventures in the country through the Urga production sharing agreement for the production and development of Urga, Kuanish and Ackhalak group of fields and several exploration blocks, including the Surkhansi investment Block and the Baisun investment Block.