Tashkent, Uzbekistan (UzDaily.com) -- During the negotiations between Tatneft and Uzbekneftegaz in Tashkent, the conditions for the formation of a joint venture to increase oil production at the fields of Andijanneft were agreed.

Tatneft and Uzbekneftegaz agreed to create a joint venture, the press service of the Ministry of Energy reported. The parties agreed to prepare the constituent documents and register the company as soon as possible.

An agreement was reached on the early adoption of a decision on the start of exploration work at the Tashkent Investment Block, as well as on the reconstruction and commissioning of gas stations under the Tatneft brand in Tashkent.

The President of Uzbekistan transferred part of the functions of Uzbekneftegaz to the State Geology Committee.

Tatneft’s operations are focused on assets in Tatarstan, where up to 70% of all oil is produced. Last year, the company produced 29.5 million tons of oil, by 2030 it is expected to increase this figure to 35 million tons, including through new projects.