Uzbekistan to sell 49% shares in Uzbekneftegaz

The government of Uzbekistan made a decision to sell state’s stock holding, including controlling stock, of Uzbekneftegaz national holding company through open tender, Regnum reported.

The report said that the shares of Uzbekneftegaz will be sold 49% shares in line with the Decree of the President of Uzbekistan “Of measures on further extension of privatization processes and active attraction of foreign investments for the period of 2007-2010”.

The agency underlined that Uzbekistan has abundant reserves of oil and natural gas. Uzbekistan’s gas and oil industry has been developing gradually since the country’s independence in 1991.