OREANDA-NEWS. May 22, 2013. Petrovietnam Exploration & Production (PVEP) is planning to launch exploration works at Molabaur investment block in Ustyurt region by the end of 2013.

According to the company, PVEP received license for exploration in the end of April and now studies received materials on block. At the end of the year, the company plans to announce a tender for drilling.

In June 2012, PVEP and Uzbekneftegaz signed agreement on exploration works at Molabaur investment block I with total areas of 3,600 km within five years. The investment volume will make up US.6 million.

The project operator is Kossor Operating Company LLC, which conducts geologic exploration in Kossor block in Ustyurt region.

In February 2010, PVEP and Uzbekneftega signed agreement on main principles of holding exploration at Kossor investment block within five years. The investment volume will make up US.4 million.

On the same year, the Uzbek and Vietnamese companies signed a memorandum, in line with which PVEP will study opportunity to hold exploration works for oil and gas at Bukhara-Khiva region of Uzbekistan.

According to Petrovietnam, Kossor Operating Company will start to study geological structure within Bukhara-Khiva region, as well as in one area in Ferghana cavity. The company plans to hold play-analyses to find out perspectives for gas and oil.

PetroVietnam said that it is also studying opportunities to expand its operations in Uzbekistan.