The agency reported that the government entrusted Uzbekneftegaz national holding company to hold negotiations with China Coal on its participation in the project.

It is planned that the Uzbek side will study oil shale processing technology, offered by Chinese company, and afterwards the sides will discuss forms of cooperation within the project.

Currently, the Uzbek side also works with Russian Institute of Atomenergoproyekt, Japan Oil, Gas & Metals National Corp and several Korean companies on project implementation.

In October 2012, Institute of Atomenergoproyekt completed development of pre-project on construction of oil processing plant at Sangruntau field.

The project envisages construction of facilities on processing 8 million tonnes of oil shale a year.

The estimated project cost is US$600 million and it will be financed due to own resources of Uzbekneftegaz, Fund for Reconstruction and Development of Uzbekistan, as well as foreign loans.

The perspective reserves of oil shale in Uzbekistan have been estimated at the volume of 47 billion tonnes. In particular, Uzbekistan assessed reserves of Baisun, Jam, Urtabulak, Sangruntau, Aktau, Uchkir, and Kulbeshkak. Oil shale includes small quantities of rare-earth, rare, non-ferrous and precious metals. The yield of diesel fraction of the oil shale tar is 30% for Sangruntau.