SOCAR and Uzbekneftegaz plan to create joint venture

The State Oil Company of the Azerbaijan Republic (SOCAR) and Uzbekneftegaz National Holding Company plan to establish a joint venture to introduce the energy-saving technologies in the Uzbek oil and gas industry.

The sides signed a memorandum on the establishing a joint venture on a parity basis. the representative of Uzbekneftegaz said that SOCAR has necessary expertise, equipment and technologies for this project implementation.

The joint venture will be introducing the latest developments and technologies in the field of energy conservation and alternative energy sources, Trend reports.