President of the Republic of Uzbekistan Islam Karimov on April 19 at the Oqsaroy met with Vagit Alekperov, President of Lukoil Oil Company.

The parties discussed Lukoil’s activities in Uzbekistan with regard to geological prospecting and development of hydrocarbon deposits in a range of investment blocks, as well as the progress in constructing a new gas processing plant in Bukhara region.

According to President Islam Karimov, the effective materialization of exploration works has allowed Lukoil to secure growth of hydrocarbon reserves across deposits of Kandym group, Khauzak-Shady, Gissar region, Kungrad segment, and as part of Investors Consortium on the Uzbek section of the Aral Sea.

It has been stressed during the meeting that Lukoil’s direct investments into the hydrocarbon complex of Uzbekistan on three investment schemes have already exceeded two billion US dollars.

More than five billion dollars of investments in general are due for the period of execution of all projects with Lukoil. Uzbekistan’s willingness to bolster cooperation in deep reprocessing of raw stock with production of goods with higher added value has been underscored.

In his turn, Vagit Alekperov expressed gratitude to the head of our state for a warm welcome and a high appreciation of Lukoil activities in Uzbekistan’s oil and gas industry, as well as a facilitating environment created to implement extensive mutually advantageous projects. The guest assured of the readiness of the company he runs to continue with the longer-term and rewarding interaction with Uzbek partners.( Press Service of the President of the Republic of Uzbekistan)