“The HoA establishes the detailed framework for the final negotiations and approval of the definitive legal documents for an investment project to assume full operations of eight existing gas-condensate fields along with two additional exploration blocks in the surrounding area with the objective of increasing production rates and recoverable reserves,” Condor said in a press release.
The Canadian company is to implement a comprehensive field refurbishment, infill drilling and an emissions-intensity reduction plan. The produced gas will be processed under long-term agreements with Uzbekneftegaz (UNG) using fixed tariffs and sold domestically under long-term contracts with the state gas marketing company.
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