The Minister of Energy of Uzbekistan Jorabek Mirzamahmudov met with a group of journalists and bloggers and talk about the problems in the energy sector.
During the meeting, blogger Khushnud Khudoiberdiyev asked the minister whether Uzbekistan gave the exclusive right to all gas and oil to a company owned by Russia for 35 years.
According to the Minister, this information is false, baseless and misinterpreted. Most of the mines in operation belong to "Uzbekneftgaz". The information on the 35-year contract concerns only the development and operation of the "25th Anniversary of Independence" mine.
"There are more than 250 oil and gas fields in the country, and Russia has partial control over one in the Surkhandarya region. According to the agreement, all expenses are covered by the Russian investor. 50% of the profit belongs to the investor and 50% to the state. The agreement is called a Product Sharing Agreement. Partners and foreign investors are signed for only one mine. I got this deal for you prepared with the involvement of a working group, investors, and international lawyers. This is not a document that appeared overnight, but a systematic, legally binding contract based on international norms. It says that the rights granted in the agreement apply only during the term of the agreement (35 years) and in the territory specified in the document. You may ask why 35 years? The reason is that the geological exploration at the "25th anniversary of independence" mine (previously known as Gadjak) will take at least 8 years," the minister said.
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