Tashkent, Uzbekistan (UzDaily.com) —  A delegation from Uzbekneftegaz held a meeting in London with analysts from the ratings agency S&P Global Ratings.

During the meeting, representatives of the company discussed state support and transformational projects being implemented by Uzbekneftegaz.

Specifically, the analysts were informed about a strategy developed in collaboration with Schlumberger aimed at maintaining the current level of natural gas production while considering economic efficiency.

S&P Global Ratings analysts highly praised the achievements of Uzbekneftegaz, including:

- A reduction in drilling times by one-third, which allowed the cost of constructing a single well to decrease from US$0.4 million to US$1.0 million.

- A 20% reduction in capital expenditures.

- A reduction in the debt-to-EBITDA ratio to below 3.

Additionally, the meeting highlighted the system for monitoring financial covenants and the measures taken to ensure compliance within established "comfortable" zones.

Overall, the meeting with S&P Global Ratings analysts confirms the positive development dynamics of Uzbekneftegaz and demonstrates the recognition of the company by international experts.