Uzbekneftegaz and Bank of China Agree to Project Financing

Tashkent, Uzbekistan (UzDaily.com) — Sukhrob Khamroev, First Deputy Chairman of the Board of the Uzbekneftegaz Joint Stock Company, held an official meeting with a delegation from the head office of Bank of China, the largest financial institution in the People's Republic of China.

The talks took place on the sidelines of the Tashkent International Investment Forum and concluded with an agreement to elevate bilateral partnership to a qualitatively new level, including the joint financing of promising projects.

During the dialogue, the Chinese side was presented with detailed information regarding the key financial results of the oil and gas company over recent years.

The Uzbek delegation placed special emphasis on ongoing internal transformation processes, the modernization of the corporate governance system in line with international standards, and institutional reforms aimed at strengthening overall financial stability.

The partners from the People's Republic of China were also presented with systemic state support measures for the industry, plans to expand geological exploration works, increase hydrocarbon reserves, grow production volumes, and integrate modern digital solutions into the management framework.

Practical instruments for financial interaction occupied a central place in the discussion. Experts and management of the organizations reviewed in detail the financing of ongoing Uzbekneftegaz investment projects, mechanisms to support import contracts, and prospects for expanding both bilateral and syndicated credit lines.

The topics of applying risk hedging mechanisms, issuing Panda bonds, and optimizing the structure of the debt portfolio were raised separately.

It was emphasized that in 2026, the company is focused on reducing the cost of borrowed capital, diversifying financing sources, and attracting long-term and more favorable investment resources.