Uzbekistan has approved the procedure for the formation programs of exploration for hydrocarbons
August 21, 2014
The Cabinet of Ministers of Uzbekistan adopted a regulation of the procedure for forming an exploration program on the National Holding Company (NHC) "Uzbekneftegaz". Position determines the order of development, coordination and approval of long-term (for a period of five to 15 years), medium-term (five years) and annual programs of exploration for hydrocarbons.
According to the document, exploration program developed NHC "Uzbekneftegaz".
"Long-term exploration program is conceptual in nature and defines the main directions of development of long-term geological industry on the basis of priorities to enhance the hydrocarbon resource base of the country, taking into account the situation on the world market, advanced scientific and technical solutions in the areas of geological study, exploration, production and processing of hydrocarbons "- the document says.
In the medium-term program will be specified parameters and criteria set out in the direction of long-term exploration program in accordance with the strategy of long-term socio-economic development of Uzbekistan.
Annual program of exploration includes complex geological study to search for oil and gas and the definition of the target parameters (direction, step, the types and amount of exploration work, the expected results, the size of the planned allocations identifying the sources of their funding) for each project, as well as the expected timing of their implementation.
The document states that the long-term and medium-term exploration program approved by the Cabinet of Ministers of Uzbekistan, the annual program - NHC "Uzbekneftegaz" in coordination with the Ministries of Economy and Finance, the State Committee of Uzbekistan on Geology and Mineral Resources.
geonews.com.ua
August 21, 2014