1 June 2020, Lukoil and Uzbekneftegaz (UNG) signed a new Memorandum of Understanding (MoU). The document provides for co-operation in the field of joint exploration and production of oil and gas in Uzbekistan. It also calls for establishment of a joint venture company for the purpose of geological exploration and commercial production. The joint venture will study geological and geophysical data in order to evaluate petroleum potential of new investment blocks.  In October 2018, the two companies signed the original MoU aimed at developing their co-operation and exchanging experience in geological exploration in Uzbekistan. It was announced at the time that the parties would jointly evaluate an unspecified prospective area of 45,000 sq. km. Vintage seismic datasets would be re-interpreted and new seismic would be acquired in order to define potential drilling prospects. The MoUâs term was set at two years.   Although the blocks in question were not specified, it is understood that Lukoil is looking at blocks LIV Akbuget, LV Beshbulak and LVI Tashkuduk in northern Uzbekistan. A small part of the LVI Tashkuduk block falls within the limits of the Syr-Darya Basin, while the rest of the blocks are in what is interpreted as a non-prospective territory between sedimentary basins.
Lukoil and UNG (Uzbekneftegaz) signed a new MoU. The document provides for co-operation in the field of joint exploration and production of oil and gas in Uzbekistan. 