Oil & Gas

18 Dec 2023

Russia Considering Increase of Oil Supply to Uzbekistan

18 Dec 2023  by en.trend   

TASHKENT, Uzbekistan, December 18. Russia is working on the possibility of increasing exports of oil and petroleum products to Uzbekistan, Deputy Prime Minister Denis Manturov said, Trend reports.

The remark was made during the meeting of the intergovernmental commission on economic cooperation between Russia and Uzbekistan.

The official noted that, the Russia supports Uzbekistan's desire to develop its own mineral resource base and is ready to continue discussing partnership in the field of geology and subsoil use.

"Currently, recommended lists of testing equipment for the modernization and retrofitting of testing laboratories of the Uzbek side have been formed. As a result, it will be possible to assess compliance with the requirements of 15 technical regulations of the EAEU. We attach great importance to cooperation in the energy sector. We are working on the possibility of increasing the supply of oil and petroleum products to Uzbekistan," Manturov said.

Manturov added that Russia already has successful projects for oil and gas exploration in the Aral Sea and adjacent territories.

“For the first time in post-Soviet history, seismic exploration for hydrocarbon raw materials was carried out on the territory of Uzbekistan. Their results make it possible to predict the discovery of large predominantly gas fields in the region," said deputy prime minister.

Meanwhile, the share of investments and loans from Russia for the development of Uzbekistan’s economy amounted to approximately $2.9 billion from January through September 2023

As per data provided by Uzbekistan’s State Statistics Committee, the recorded number comprises 15.9 percent of the total foreign investments, thus making Russia the top second country among those investing in Uzbekistan.

As per the statistics agency, investments and loans from the Russian Federation constituted 20.3 percent of the total foreign investments in the country in 2022, which translates to roughly $2 billion, standing as the biggest figure among all investing nations.


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