Uzbekneftegaz, Chinese firms plan to launch new ventures

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Economy 11/09/2009 Uzbekneftegaz, Chinese firms plan to launch new ventures

Uzbekneftegaz headquarters in Tashkent

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekneftegaz national holding company (Uzbekistan) held negotiations with Chinese companies in Beijing, China, the Uzbek company said in a statement. The sides signed several documents on the results of the talks, it added.

The company said Uzbekneftegaz inked a memorandum of understanding with CNPC. The document is directed at deepening cooperation on existing projects and creation of new joint ventures.

The sides are planning to create joint venture on overhaul, assembly and production of oil and gas equipment and organization of capacities on production of drip irrigation systems.

Uzbekneftegaz also signed memorandum of understanding with San Wei Sin Yo [transliterated], which stipulates production of vehicle tyres.

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