Uzbekistan plans to reduce state share in Jizzakh Petroleum

Uzbekneftegaz wants to reduce its share in the authorized capital of Jizzakh Petroleum JV from 60 to 30%, follows from the draft resolution of the government of Uzbekistan.

“In accordance with the proposal of Uzbekneftegaz JSC and foreign partners to redistribute the share of participants in the authorized capital of Jizzakh Petroleum JV, 70% shares of the company will be given to foreign partners and the rest (30%) will remain in Uzbekneftegaz,” the document says.

The controlling stake in the fund until the adoption of the resolution belongs to Uzbekneftegaz, the remaining 40% to Gas Project Development Central Asia (a subsidiary of Gazprom International).

The document also indicates that it is planned to build a modern refueling complex for servicing aircraft at the Tashkent International Airport. The construction customer will be Jizzakh Petroleum.

It should be recalled that earlier, the deputy director of Neftegazinvest Husniddin Turayev announced the suspension of the project on constructing Jizzakh Oil Refinery, which was being implemented by Jizzakh Petroleum.