EXIAR insurance agency to provide US$150 million to finance the second stage of the program to increase hydrocarbon production
24/11/2020 12:58
EXIAR insurance agency to provide US$150 million to finance the second stage of the program to increase hydrocarbon production
24/11/2020 12:58
Tashkent, Uzbekistan (UzDaily.com) -- A delegation of Uzbekneftegaz joint-stock company is negotiating in Moscow with companies from the Russian Federation in order to resolve issues of bilateral and promising cooperation.
In particular, the Chairman of the Board of Uzbekneftegaz Mehriddin Abdullaev held negotiations with the General Director of Russian Agency for Insurance of Export Credits and Investments (EXIAR) Nikita Gusakov.
Within the framework of the negotiations, the projects of Uzbekneftegaz JSC aimed at increasing hydrocarbon production were discussed, within the framework of which the issue of obtaining insurance coverage for loans from Russian banks is being worked out.
The insurance agency takes an active part in organizing the financing of the second stage of the Program for increasing hydrocarbon production for 2017-2021, providing coverage in the amount of US$150 million on a loan from a syndicate of Russian banks under development.
Another promising area of cooperation is attracting funds under EXIAR coverage for the purchase of material and technical resources for drilling and geological exploration in 2021, which will become the basis for the intensification of hydrocarbon production.
It should be noted that Uzbekneftegaz is actively working to modernize oil and gas facilities in order to ensure the predicted level of hydrocarbon production and provide the country's economy and the population of the republic with hydrocarbon raw materials.
During the meeting, the parties discussed the parameters of insurance coverage, reducing loan costs, establishing the optimal loan rate, as well as indicative conditions for financing the acquisition of high-tech equipment and services of Russian production.
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