| Location: | Namangan region
|
| Sector: | Mineral and petroleum exploration, mining and processing
|
| Total cost: | $ 211.7 mln |
| Chinese partner: | China National Oil and Gas Exploration and Development Company Ltd.
China Development Bank |
| Uzbekstani partner: | Uzbekneftegaz |
| Construction start: | 2017 |
| Putting into commission: | 2019 |
China National Oil and Gas Exploration and Development Company Ltd. (CNODC) is a subsidiary of China National Petroleum Corporation (CNPC). China National Petroleum Corporation is the world’s 3rd largest oil company based in China which plays a leading role in China's petroleum industry. It integrates the business portfolios of both an oil company and an oilfield service provider, with operations covering the entire oil and gas industry value chain. Having oil and gas assets and interests in over 30 countries, it plays a greater role in the global petroleum circle.
China Development Bank (CDB) is a development bank in the People's Republic of China, led by a cabinet minister at the Governor level, under the direct jurisdiction of the State Council. As one of three policy banks in China, it is responsible for raising funds for large-scale infrastructure projects. CDB provides medium- to long-term financing facilities that serve China’s major long-term economic and social development strategies. Debts issued by the China Development Bank are owned by local banks and treated as risk-free assets under the proposed People's Republic of China capital adequacy rules.
Uzbekneftegaz is a state-owned holding company of Uzbekistan's oil and gas industry engaged in geological exploration, production, transportation, storage, processing and sale of oil and gas. The company ranks 11th in the world in natural gas production. It is the largest state-owned company in Uzbekistan.
China National Petroleum Corporation is taking an active part in exploration and development of Mingbulak deposits in the territory of Namangan region, which could produce 40,000 barrels per day. [1]
The states agreed on the project in 2008, but the exploration has started only in 2017. The project's terms allow for exploration and development work to continue until 2035. The field is estimated to hold recoverable hydrocarbon reserves of 2 million tonnes (14.3 million barrels), most of which is oil. [2]
According to experts, the development of the Mingbulak deposit is not easy for several reasons. The main problems are: depth (6000 m); high reservoir pressure (over 115 MPa) and reservoir temperature (over 168 ° C) and other factors. The project is one of the largest in the field of energy cooperation between Uzbekistan and the People’s Republic of China. It is carried out within the framework of the “One Belt - One Road” initiative. [3]
In 2019 the first oil was produced. [4]
https://m.xabaruz.com/uz/iqtisodiyot/mingbuloqda-birinchi-neft-qazib-olindi