Uzbekistan offers Swiss Bluestone to take oil refinery on trust

Oil&Gas Materials 22 February 2019 14:56 (UTC +04:00)

Baku, Azerbaijan, February 22

By Fakhri Vakilov -Trend:

Uzbekneftegaz has offered the Swiss company Bluestone Group to take the Fergana refinery in trust, Trend reports via Uzbek media.

The first deputy chairman of the board of Uzbekneftegaz, Ulugbek Sayidov made the offer to executive director of the Bluestone Group, Solomon Wolf during negotiations.

"At the talks, representatives of Swiss company expressed their interest in cooperating in promising projects of Uzbekneftegaz on terms of equity financing. In this regard, the foreign party was invited to participate in the modernization of Fergana refinery under the terms of a trustee manager and construction of a gas chemical complex using logistics technology as an investor" Uzbekneftegaz noted.

In addition, representatives of Bluestone Group were invited to participate in a business forum organized by Uzbekneftegaz for potential participants in the implementation of projects for the deep processing of hydrocarbons in May 2019.

As a result negotiations, parties agreed to meet again and to discuss issues of joint implementation of projects in case foreign investors are interested.

Preliminary, Uzbek President held a meeting on the development of oil and gas industry, where he instructed that the Fergana Oil Refinery be transferred to the trust management of investors on the basis of a public-private partnership.


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