Current environment and Current environment and perspectives of cooperation perspectives of cooperation in energy sector of in energy sector of

the Republic of the Republic of UzbekistanUzbekistan

Mr. Shavkat MajitovMr. Shavkat Majitov

First Deputy Chairman,First Deputy Chairman,National Holding Company “UZBEKNEFTEGAZ”National Holding Company “UZBEKNEFTEGAZ”

Uzbek-Korean Business Forum

8th of May 2007, Tashkent, Uzbekistan

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HISTORICAL DATES

UZBEKNEFTEGAZ UZBEKNEFTEGAZ National Holding CompanyNational Holding Company

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OIL & GAS PRODUCTION

TODAY THE LEVEL OF HYDROCARBON PRODUCTION IS 33% HIGHER THAN THE REACHED ONE IN 1991

52,9

54,5

57,9

61,2

67,4 67,668,7

69,770,0 69,8 70,6

69,4

70,671,3

71,372,1

52

57

62

67

72

77

mln

. ton

s of oi

l equ

ival

ent

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006

1991 is the base year

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Exploration & Development

193 hydrocarbon fields have been discovered in the Republic of Uzbekistan. 93 fields are under the development. 67 are prepared for development. On the other 33 field exploration works are being done

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FERGHANA REFINERY (1958) rehabilitated in 2000

Refinery & Processing of Refinery & Processing of Oil&GasOil&Gas

BUKHARA REFINERY (1997)

MUBAREK GAS PROCESSING PLANT (1971)

SHURTAN GAS PROCESSING PLANT (1980)

SHURTAN GAS CHEMICAL COMPLEX (2001)

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Gas Transportation Gas Transportation SystemSystem

TOTAL LENGTH OF THE MAIN PIPELINES

MORE THAN 13 000 km

QUANTITY OF COMPRESSORS

MORE THAN 250

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Gas Transportation Gas Transportation SystemSystem

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Legislation on Legislation on InvestmentsInvestments

The Subsoil LawThe Subsoil Law

The Investment Activity LawThe Investment Activity Law

The Production Sharing Agreements LawThe Production Sharing Agreements Law

The Law on Guarantees and Measures on The Law on Guarantees and Measures on Protection of Foreign InvestorsProtection of Foreign Investors

The Foreign Investments LawThe Foreign Investments Law

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LOCATION OF

INVESTMENT BLOCKS IN THE TERRITORY OF THE

REPUBLIC OF UZBEKISTAN

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NEW PROJECTS (2005-2007)

I

IIIIIIVV

I

II

III

IV

V

Usturt

Buhara-Khiva

SurkhandaryaV Ferghana

Tashkent

SamarkandBukhara

Gazli

Termez

Urganch

Nukus

Ferghana

AndijanNamangan

III South-West Gissar

PSA between Republic of Uzbekistan and UNG, LUKOIL Overseas, PETRONAS Carigali, CNPC International, KNOC for exploration Uzbek part of Aral Sea

Joint Study of UNG and PETRONAS

UNG & CNPC signed an exploration contract for 4 investment blocks

New Gas Chemical Complex

Oil Tech E&P Singapore

development project

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NAMAGAN-TERGACHI & CHUST-PAP PROJECT

1. Location: Namangan region

2. Total area: Chust-Pap – 2000 sq.km; Namangan-Tergachi – 2800 sq.km

3. Minimum Work Program: Chust-Pap: – 1500 km 2D seismic – drilling of 2 wells Namangan-Tergachi: – 1000 km 2D seismic – drilling of 3 wells

4. Estimated investments: Chust-Pap – $ 25 M ; Namangan-Tergachi – $ 25 M

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UZUNKUI-TUARKYR PROJECT

1. Location: Ustyurt region

2. Total area: 9300 sq.km

3. Minimum Work Program: - 3840 km 2D seismic - drilling of 6 wells 4. Estimated investments: $ 62.4 M

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DENGIZKUL COMPRESSOR STATION PROJECT

UNG-KDB Cooperation

PAMUK COMPRESSOR STATION PROJECT

CO-FINACING OF 2 PROJECTS

$30 M

OTHER LENDERS:1. Fund of Reconstruction & Development of

Uzbekistan2. Uzpromsrtoyban

k

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SURGIL PROJECT

1. Location: Karakalpakstan Muynak region

2. Objectives: - Development of Surgil Field - Construction of Ustyurt Gas Chemical Complex PE = 362.000 tons/year

PP = 83.000 tons/year

3. Estimated Investments: ~ $ 1.5 Billion

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Business OpportunitiesBusiness Opportunities

Creating Joint Ventures in Creating Joint Ventures in different areas of oil & gas different areas of oil & gas businessbusiness

Loans and InsuranceLoans and Insurance Alternative sources of energy Alternative sources of energy

(e.g. biomass, biofuel, GTL) (e.g. biomass, biofuel, GTL) Energy Conservation Energy Conservation

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OIL&GAS of UzbekistanOIL&GAS of Uzbekistan

OGU - Uzbekistan International Oil & Gas Exhibition & Conference

15-17 May 2007, Tashkent, Uzbekistan

OGU - 2007

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“UZBEKNEFTEGAZ” National Holding Company

21, Akhunbabaeva str., Tashkent, 700047Republic of Uzbekistan

tel:(+ 99871) 133 57 57(+ 99871) 136 02 10

fax:(+ 99871) 136 77 71

http:www.uzneftegaz.uz

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Thank you for your Thank you for your attention!attention!