H.E. President of the Republic of Uzbekistan Sh. M. Mirziyoyev has created favourable conditions for attracting investors to the field of geology in recent years.
Large-scale work is underway to explore and produce new hydrocarbon reserves with the involvement of foreign investors for the sustainable provision of energy resources to consumers of Uzbekistan.
On August 17, 2023, a meeting was held at the Agency for Strategic Reforms with Mr. Nguyen Tien Bao, Vice President of PetroVietnam Exploration Production Corporation, where projects in the field of geological exploration of oil and gas in the Republic of Uzbekistan were discussed.
For reference: PetroVietnam, established in 1977, is the state oil company of the Socialist Republic of Vietnam. It has projects in countries such as Malaysia, Indonesia, Mongolia, Myanmar, Algeria, Iraq and the Russian Federation. Annual turnover comprises 27 bln. US dollars.
The Vietnamese partners shared their plans for investing in exploration work in Uzbekistan in order to discover new hydrocarbon reserves.
As a result of the meeting agreements on the start of geological exploration of the Kossor, Shorchashma, Chukurkul blocks in the Republic of Uzbekistan were signed between the Ministry of Investments, Industry and Trade, the Ministry of Mining and Geology as well as PetroVietnam Exploration Production Corporation.