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Home / Business and Innovation / Uzbekneftegaz, ExxonMobil to Step up the Realizati...

Uzbekneftegaz, ExxonMobil to Step up the Realization of Joint Project

On September 25, Uzbekneftegaz JSC hosted a meeting with ExxonMobil officials.

For the duration of joint activities, the American multinational has proved to be a reliable partner of Uzbekneftegaz. In this regard, representatives of the Texas-headquartered company were thanked at the meeting for their participation as a licensor of processing equipment in the project “Organization of the production of base oils of Groups II and III at the Ferghana Oil Refinery LLC”.

ExxonMobil is a world-renowned multifunctional corporation that specializes in the development and supply of technologies for oil refining, gas processing, petrochemical production and large manufacturing industries.

The company’s cooperation with Uzbekneftegaz received a new impetus thanks to the official visit by the President of Uzbekistan Shavkat Mirziyoyev to the United States in May 2018, when the sides inked a cooperation agreement.

The project on the production of base oils is implemented in accordance with a roadmap envisaging the enhancement of interstate cooperation between Uzbekistan and the United States.
The cost of the scheme is estimated at 150 million US dollars, while its realization is scheduled for 2018-2021.

ExxonMobil experts noted that the project is thus far unique to the region. The hydrocarbon industry in Uzbekistan can be confident that ExxonMobil is willing to share experience and technology for the successful implementation of this promising venture, said Vice President Sean Smith, general manager for oil refining and gas purification technologies, catalysts and licensing.

Officials of one of the world’s major corporations received extensive information during the talks on the latest reforms in Uzbekistan’s business climate, including those proceeding from the presidential resolution providing for a new procedure for approving pre-project, design and tender documentation, as well as import contracts.
The parties to the negotiations discussed further action and measures to step up the realization of the project, in particular, signing of license and engineering agreements, the possibility of optimizing prices given the latest configuration of the production process, along with the prospects for obtaining additional base oils from the residual fraction.

Press Service of Uzbekneftegaz JSC
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