Uzbekneftegaz JSC and Exxon Mobil to Accelerate the Implementation of Joint Project
During the joint work, Exxon Mobil has proved to be a reliable partner of Uzbekneftegaz JSC. In this regard, at the meeting, representatives of Exxon Mobil were thanked for their participation as a licensor of production equipment in the project ‘Organization of the production of groups II and III base oils in the Ferghana Oil Refinery LLC.’
Exxon Mobil is a globally known multifunctional company that specializes in the development and supply of technologies for oil refining, gas processing, petrochemical production and large manufacturing industries.
The cooperation between Exxon Mobil and Uzbekneftegaz JSC received a new impetus to the results of the official visit of the President of Uzbekistan to the United States, where the Cooperation Agreement was signed.
This project on the organization of production of base oils is implemented in accordance with the Roadmap for the further development of interstate cooperation between the Republic of Uzbekistan and the United States.
Estimated cost of this project is 150 million USD, the terms of its implementation - 2018 - 2021.
Exxon Mobil experts noted that such a project is the only one in the region. “The oil and gas industry of Uzbekistan can be confident that Exxon Mobil is ready to share experience and technologies for the successful implementation of this promising project,” Sean Smith, General Manager for Oil Refining and Gas Purification Technologies, Catalysts and Licensing, Vice President of Exxon Mobil Corporation, said.
The specialists of the foreign company received extensive information on the latest reforms in the business climate of the country, in particular, the adoption by the President of Uzbekistan of a resolution providing for a new procedure for approving pre-project, project and tender documentation, as well as import contracts.
During the talks, the parties discussed further actions and measures to accelerate the implementation of the project, in particular signing of license and engineering agreements, the possibility of optimizing prices taking into account the updated configuration of the production process, as well as the possibility of obtaining additional base oils from the bottom fraction.