Petronas to return to Uzbekistan

Malaysian company Petroliam Nasional Berhad (Petronas) is planning to continue its operations in Uzbekistan. “Dunyo” news agency reports with reference to Bernama.com, Malaysian information agency.

The agency notes that the resumption of Petronas's participation in the oil and gas industry of Uzbekistan will boost bilateral trade, economic relations and investment cooperations between the two countries. According to the author, Petronas's return to the Uzbek market is “essential”.

In mid-2013, the Malaysian company informed Uzbekistan that they would like to withdraw from production sharing agreement in Ustyurt region and production sharing agreement for the Development of Baysun Investment Block in Surkhandarya region. In 2014, the company closed its representative office in Uzbekistan.