Authorities in Uzbekistan have resolved to work out a legal framework to be able to offer over 50 exhausted oilfields for rehabilitation to international investors under risk service contracts, as the country has embarked on a reform road for its major oil, gas and transportation holding, Uzbekneftegaz.
Speaking at the end of last week in Tashkent, Uzbekneftegaz executive board chairman Bakhodirzhon Sidikov said that the framework will permit authorities to auction these assets, rather than engage in lengthy talks with potential partners to determine individual terms for each development.
