Tashkent, Uzbekistan (UzDaily.com) -- In order to increase the efficiency of the work of Uzbekneftegaz with international partners, to bring the company’s cooperation with international financial institutions to a new level, members of the Uzbekneftegaz delegation met in London with representatives of the Barclays investment bank and legal organization White & Case.

At the meeting of the delegation headed by the Chairman of the Board of Uzbekneftegaz with representatives of the head office of the investment bank Barclays in London, information was provided on the results achieved by the company in recent years, investment projects implemented, modernization and achievement of effective results in the production and processing of natural gas . An exchange of views took place on ongoing transformation processes, issues of financial recovery and mutual cooperation.

It is worth noting that the Barclays bankers were particularly interested in the debut successful issue of Eurobonds of Uzbekneftegaz for a total of US$700 million, as well as the recent launch of the GTL plant in Kashkadarya region.

In addition, the Barclays side expressed interest in cooperation with Uzbekneftegaz and proposed a number of areas for further cooperation.

During the meeting, the parties also discussed the possibility of Barclays’ participation in financing the project "Expanding the capacities of the Shurtan gas and chemical complex", as well as hedging potential credit lines of Uzbekneftegaz.

Following the meeting, the parties agreed to maintain constant communication and jointly work out all available promising areas of cooperation.

During the visit, members of the delegation, headed by the Chairman of the Board of Uzbekneftegaz, also met with representatives of the legal organization White & Case.

Representatives of White & Case were acquainted with the general activities of the company, the current transformation processes, as well as the results achieved in recent years.

The Chairman of the Board of Uzbekneftegaz expressed interest in further development of cooperation, which, in turn, was supported by representatives of White & Case.

During the meeting, the parties also exchanged views on the current situation in international markets and a possible unstable economic situation.

The parties reached preliminary agreements on the current state of joint projects, new promising areas and agreed on joint work within the framework of planned projects.