The Minister of Energy of Uzbekistan, Jurabek Mirzamakhmudov, discussed the revision of long-term agreements with investors in the oil and gas sector in an interview with Uzreport TV. He mentioned that projects may be reviewed and additional obligations imposed on partners if conditions change, emphasizing the importance of agreements that benefit both sides without contradicting interests.
In 2019, President Shavkat Mirziyoyev acknowledged Uzbekistan's debt to "Lukoil" and highlighted concerns about the production-sharing agreement not considering national interests. He also addressed corruption in the oil and gas sector, citing instances of financial impropriety related to projects like the Ustyurt Gas Chemical Complex.
President Mirziyoyev announced a 10-year program for geological exploration to increase gas reserves, involving large foreign investors while safeguarding national interests. He stressed the need to revise gas extraction licenses and address inefficiencies in the sector to ensure long-term benefits for Uzbekistan.
Several production-sharing agreements have been signed with companies like "Lukoil," "Gazprom," and others for various projects in Uzbekistan, with plans for exploration works on the M25 field in the Surkhandaryo region requiring at least eight years according to Minister Mirzamakhmudov.
