By the OGJ Online Staff
HOUSTON, Apr. 6 -- The Uzbekistan government will announce details on the privatization of Uzbekneftegaz, the national oil company, and its subsidiaries during a 1-day conference in Tashkent May 16.
The Uzbek government is in the process of an economic restructuring aimed at achieving an annual economic growth of 4-5%. Uzbekneftegaz�s privatization follows an Apr. 28, 2000, presidential decree regarding new investment legislation in the oil and gas industry.
On May 16, officials from Uzbekneftegaz, the State Property Committee, and the State Taxation Committee will make detailed presentations about the legal and fiscal framework of the privatization.
Uzbekistan produced an estimated 152,000 b/d of oil in 2000 (OGJ, Dec. 18, 2000, p. 122).
Oil reserves are estimated at 594 million bbl, and gas reserves at 66.2 tcf.
E. Ganiev, Minister of Foreign Economic Relations, will outline alternative investment opportunities in Uzbekistan�s oil and gas industry. More than 200 delegates from the international oil and gas industry are expected to attend the conference, a government news release said Friday.
The Oil and Gas Uzbekistan conference coincides with the OGU Exhibition May 15-17 in Tashkent. The exhibition will feature more than 110 companies from more than 25 countries. Organizers expect 8,000 visitors to attend the exhibition.