Tashkent, Uzbekistan (UzDaily.com) -- “The audited financial statements of the company contain a reference to the PSA in relation to the investment block “Independence of Uzbekistan”. The rights to conduct the company's oil and gas operations in Uzbekistan are specified in relation to this PSA, Altmax Holding said.

The terms used in the PSA are capitalized in the audited financial statements. The term “Oil and Gas Operations” (with a capital letter) specified in the reporting, in accordance with the provisions of the PSA, is defined as the activity of the investor to perform the established scope of work (geological exploration, field development, production, treatment, transportation of natural gas and sulfur, etc.). ) exclusively within the framework of the contract areas of the Mustakillikning 25 Yilligi field established in the PSA,” the company said in a letter addressed to the Minister of Energy of Uzbekistan Zh. Mirzamakhmudov.

Altmax Holding also in its letter accused the journalists of Radio Ozodlik of unscrupulously pulling phrases out of context and substituting concepts.

“We believe that in the article of journalists there is an unfair pulling of phrases out of context and a substitution of concepts. By removing capital letters and thus replacing the legal term with a general civil concept, the journalists deliberately misled their readers regarding the territory of the company's oil and gas operations,” the letter says.