Uzbekistan plans to draw $1.9 billion of foreign investments in 2010-2015

Uzbekistan, Tashkent, May 12 / Trend D. Azizov /

Uzbekistan plans to draw $1.9 billion of foreign investments in the exploration of oil and gas in 2010-2015, geology and exploration of oil and gas fields institute director Gaybulla Abdullayev said at an international exhibition OilGazUzbekistan - 2010, held in Tashkent these days.

Abdullayev said that the share of industrial growth of hydrocarbon reserves at the expense of exploration by foreign investors in 2016 can increase to 50 percent compared to 39 percent in 2009.

About 47 investment blocks have been allocated by Uzbekneftegaz in the country. About 26 blocks have been already transferred to foreign investors. The joint study is carried out at the two blocks. Negotiations on six blocks are being held with potential partners.

The total area of potential sites allocated to foreign companies, hits about 64 percent of the total area with expected hydrocarbon resources to the amount of 4.06 billion tons of fuel, or 52.5 percent of the total expected resources. About 15 promising fields were discovered in the country with the participation of foreign companies.

According to the institute, the amount of attracted foreign investments to the exploration of oil and gas in the republic amounted to about $1,2 billion in 2006-2009.

A program to ensure the growth of the reserves of raw materials ranging from 75 to 112 million tons of fuel annually owing to further increase in the deep exploratory and parametric drilling has been developed in Uzbekistan for 2004-2020.

In particular, natural gas reserves of industrial categories will increase from 60 to 85 billion cubic meters annually.

Uzbekistan opened 228 hydrocarbon fields as of early 2010. About 179 deposits are deposits of free gas, 112 - oil, 142 - gas condensate.

According to Uzbekneftegaz, nearly 25 percent of the total hydrocarbon resources, including the Bukhara-Khiva region - 75 percent, South-West Hissar - 35 percent, Surkhandarya - 12 percent , Fergana - 22 percent, Ustyurt - 15 percent have been mastered in Uzbekistan now.

Uzbekneftegaz is the exclusive operator of oil and gas sector of Uzbekistan. It was created in 1998. The company includes six joint stock companies.

Uzbekneftegaz's power can provide natural gas production in the region worth 70 billion cubic meters and liquid hydrocarbons to the amount of eight million tons annually.

According to official statistics, Uzbekneftegaz reduced the volume of oil and gas condensate by 7,4 percent in 2009 compared to the same period in 2008 - up to 4.455 million tons. Gas condensate decreased by 5.4 percent - up to 2.124 million tons, oil - by nine percent - up to 2.331 million tons.

Kazakhstan increases exports to Tajikistan over 9M2020
Kazakhstan increases exports to Tajikistan over 9M2020
Uzbek and Tajik silk value chains to be restored
Uzbek and Tajik silk value chains to be restored
Turkmen power plant plans to increase electricity production in 2025
Turkmen power plant plans to increase electricity production in 2025
Loading Bars
Turkey summons EU, Germany, Italy envoys after interception of Libya-bound commercial vessel
President Ilham Aliyev raises Azerbaijani flag in Aghdam city (PHOTO)
Georgian gov't administration head Natia Mezvrishvili resigns
EU promises 217 mln USD to debt relief for 29 poorest countries
It is time to rebuild, heal and revive Azerbaijani Fuzuli city - Algerian Ambassador (PHOTO)
President Ilham Aliyev and first lady Mehriban Aliyeva visit liberated from occupation Aghdam city (PHOTO)
Meeting with the leadership of the Interstate Television and Radio Company “Mir”
Turkmenistan participates to the 2020 Afghanistan Conference
Mine explosion in Karabakh injures Russian officer on search mission
Azerbaijan's Culture Ministry urges French cultural figures to be honest and impartial
Baku Metro, Almetcon LLC sign contract on installation of aluminum windows
Georgian Poti Free Industrial Zone talks about ongoing projects
Azerbaijan expects growth of pomegranate yield
Iranian Energy Exchange announces products to be on sale November 24
Azerbaijani First VP Mehriban Aliyeva shares footage from Aghdam (VIDEO)
Growth of monetary aggregates observed in 9M2020 - Central Bank of Azerbaijan
Iran preparing to use water reservoir on Araz River on border with Azerbaijan
Main source of self-financing for Tbilisi City Hall to be tax revenues
Azerbaijan to make amendments to e-mortgage & loan guarantee system
Lufthansa to resume flights to Iran
Azerbaijan investigating criminal case against Armenian ex-minister
CoE approves trilateral declaration to end all hostilities between Armenia and Azerbaijan
Goods stuck in Iran customs exceed 550,000 tons
Iran claims its COVID-19 death toll to decrease next month
Iran’s Bahar Azadi gold coin price starts to rise
Uzbek currency rates for November 23
Turkmen Ministry of Construction extends tender for construction of checkpoints
Iran reveals investments for Markazi Province
Azerbaijani consumers prefer to buy car on credit - expert
Kazakhstan to establish facilities around big plants in Kyzylorda region
Azerbaijan to initially organize educational tourism in liberated districts - state agency
Expert explains Iran's current limits with its oil, oil product exports, revenues
Iran-Afghanistan, Khaf-Herat railway to open soon
Kazakhstan decreases exports to Netherlands amid COVID-19
Georgian Tskali Margebeli company may increase prices of products
Uzbek commodity exchange trading floor opened in Ukraine
Innovative Technology Park in Uzbekistan starts developing robots production
Azerbaijani mortgage fund issues regular bond interests
Prices of old apartments decline in Georgia
Azerbaijan confirms 634 more COVID-19 recoveries
Turkmenistan's Turkmentehnogurlusyk opens tender for audit
Turkey announces commissioning date for logistics center in Kars province
Iranian tourists reduce visits to Turkey amid COVID-19 pandemic
Azerbaijani organizations to benefit from Visa's updated Fast Track program
Azerbaijan discloses revenues from passenger, cargo transportations via TRACECA
Toyota leads re-exported vehicle brand from Georgia
Iran to launch Bostanabad-Tabriz railway line
Kazakhstan increases imports from France despite COVID-19
Transportation of Caspian oil via Baku-Supsa pipeline increases
Tbilisi’s residential property sales marginally down in October
Kazakhstan and Turkmenistan holding negotiations on possible gas supplies
Kazakhstan to build desalination plants in Mangystau region
Iran to allocate funds for the rehabilitation of Anzali Wetland
Iran to distribute domestic COVID-19 vaccine by summer of 2021
Netanyahu met Saudi crown prince, Pompeo in Saudi Arabia on Sunday
Citizens of Russia and Ukraine will be able to return from Azerbaijan to their homeland
Lithuanian - Turkmen cooperation not affected by COVID-19
Rompetrol opens its flagship station in Georgian Borjomi
Lithuania interested in developing co-op with Turkmenistan in transport sector
Azerbaijan’s AzerGold to pay investor fee on placement of second tranche of bonds
Iran discloses number of licenses issued in Mazandaran Province
Fitch Ratings forecasts growing share of problem loans in Azerbaijan
Deputy minister talks tree-planting campaigns in liberated lands of Azerbaijan
Azerbaijan boosts import of cars in 10M2020
Azerbaijan strengthens preventive measures related to coronavirus in justice system – Justice Ministry
Death toll from coronavirus pandemic in Iran surpasses 45,000
Gold, copper ores output decreases in volume in Kazakhstan
Iran eyes to link Persian Gulf with Caspian Sea via railway
Kazakhstan's revenue from maritime cargo transport increases
Azerbaijan aims to put Armenian ex-defense minister on int'l wanted list
Azerbaijan establishes Nagorno-Karabakh Regional Department of Justice Ministry
Uzbek-Korean JV announces tender for transport services
Russian shipbuilding corporation plans to start construction of ships in Turkmenistan
Iran reveals forecast on employment for Lorestan province
Ambassador Manig: Germany will strengthen Council of Europe by focusing on initiatives enabling better protection of citizens (INTERVIEW)
Batch of new Hyundai buses delivered to Turkmenistan
Uzbek commodity exchange to buy tires via tender
Azerbaijan ramps up exports to CIS countries
Ceyhan terminal transships 188 million barrels of ACG oil
Iran discloses balance of bank loans
Azerbaijani State Fire Control Service begins work in liberated districts
Uzbekistan boosts grape exports to Russia in September
Uzbek chemical enterprise starts commissioning of new fertilizer plant
Uzbekistan’s Jizzax Organic to import cattle from Europe
Uzbek Jizzax Organic predicts increase of purebred sheep herds in Uzbekistan
Famous UK-based poetess of Azerbaijani origin appeals on Armenian ecological terror (VIDEO)
Volume of gold exports stops growing in Uzbekistan
Iran doing research on several types of COVID-19 vaccines
Inflation rate in Iran increasing
Turkey sees decline in inflow of Azerbaijani tourists over 10M2020
Central Bank of Azerbaijan reveals funds attracted through auctions
Georgia reports 3,958 new cases of coronavirus
Expert assesses pros and cons of vehicles sale on Iran's Mercantile Exchange
Fitch Ratings reveals outlook of Azerbaijan's current account deficit for next year
Banks' supply exceeds demand at deposit auction of Central Bank of Azerbaijan by five times
Industrialization projects underway in Kazakh Kyzylorda region
Details of products sold at Iran Mercantile Exchange revealed
Fitch talks about Georgian Railway's tariffs
Uzbekistan's foreign trade turnover down in October
Uzbekistan’s Fergana Oil Refinery cuts heating oil price
All news