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Article: UZBEKISTAN - The Oil/Gas E&P Potentials.
- Article from:
- APS Review Gas Market Trends
- Article date:
- October 6, 2008
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Uzbekistan's petroleum potentials, including reserves in the Ferghana Valley, have attracted less attention from international oil companies (IOCs) than in the case of Kazakhstan or Azerbaijan. This is mainly because IOCs are less interested in a landlocked country like Uzbekistan, which is far from existing outlets to the major markets for oil and gas. Another main reason is the cautious nature of the Uzbek government, which tends to be wary of foreign motives, with its vague legal and regulatory system discouraging potential investors.
Uzbekistan is a gas-prone country. Its oil reserves are estimated independently at less than 600m barrels. Its proven reserves ...