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.