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Economy 17/11/2008 Uzbek leader says Malaysian firm to invest in country’s energy sector
Malaysian Prime Minister Abdullah bin Haji Ahmad Badawi and Uzbek President Islam Karimov /UzA Photo/
Tashkent, Uzbekistan (UzDaily.com) -- Malaysian Petroliam Nasional Bhd (Petronas), in the medium-term, is planning to invest over US$750 million in exploring and developing oil and gas deposits in Uzbekistan, Uzbek President Islam Karimov told journalists after talks with Malaysian Prime Minister Abdullah bin Haji Ahmad Badawi on 17 November.

The Malaysian government delegation which is visiting Tashkent includes Petronas representatives, including the company president, Tan Ski Hassan Marican.

Karimov said that in addition to exploring and developing oil and gas deposits, the Malaysian company was planning to implement a large petrochemical project worth about US$2 billion in Uzbekistan.

"The feasibility study of a project on producing synthetic liquid fuel [in Uzbekistan] is being drawn up by Petronas together with other companies," the Uzbek president said.

Uzbekneftegaz (Uzbek Oil and Gas) national holding company and Petronas signed several working documents on product-sharing agreement on Urga, Kuanish and Akchalak groups of deposits.

During the official visit of Prime Minister to Uzbekistan, the sides also signed a memorandum “On cooperation in training of specialist for oil and gas sector between Uzbekneftegaz and Petronas” and protocol “On coming into effect of Agreement on exploration works at Surkhan investment block of Surkhandarya region”.

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