Indian company may participate in geological exploration in Uzbekistan
Baku, Azerbaijan, Oct. 17
By Fakhri Vakilov-Trend:
The Indian ONGC Videsh Limited oil and natural gas corporation is considering the possibility of participating in geological exploration at a number of investment blocks in Uzbekistan, Trend reports citing the press service of Uzbekistan’s Ministry of Energy.
According to the press service, the development of Uzbek-Indian cooperation in the electricity, oil and gas and other areas of the fuel and energy complex were considered during a recent meeting at the ministry.
The prospects of cooperation between the two countries in various spheres of the fuel and energy sector were noted.
The Indian side was familiarized with the opportunities to participate in investment projects in the energy sector, given that the forecast for annual growth in electricity consumption in Uzbekistan is about 6-7 percent. By 2030, it is necessary to ensure guaranteed generation of 121 billion kWh of electricity and, accordingly, the availability of 31.8 GW generating capacities, the press service reported.
According to Uzbekistan’s State Statistics Committee, India was among the top five countries exporting chemicals and their products to Uzbekistan in eight months of this year.
In January-August 2019, $112.4 million worth of chemical products from India was delivered to Uzbekistan, which is an increase of 26.3 percent compared to the corresponding period last year.
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