WorleyParsons settles in the Uzbek market.

Oil and gas sector of Uzbekistan continues to attract the latest technology and innovative solutions. Within these processes an Uzbek-British joint venture WorleyParsons Uzbekistan Engineering has been created to develop and run high-tech programs in energy and petroleum industries.

The new joint venture was established with the cooperation of the Uzogirneftgazkimyoloyiha Institute, UzLITIneftegaz Open Joint Stock Company and WorleyParsons (UK).

WorleyParsons Uzbekistan Engineering became the result of mutually beneficial and successful cooperation with Uzbek partners, said David Herman, WorleyParsons Director for Europe and Africa. Mr. Herman emphasized that every year Uzbekistan improved the oil and gas industry infrastructure. Uzbekistan creates favorable conditions for economic partnership, promotes investment opportunities. WorleyParsons expressed its interest in developing mutual investment cooperation.

The joint venture is equipped with the latest technology and will be engaged in promising projects on processing of natural resources and training programs.

Experts say British businesses are not occasion guests in the Uzbek market. Oil and gas sector is one of the fastest growing industries in the country. Today the national holding company Uzbekneftegaz has more than 20 joint ventures specializing in the exploration and construction, design and services. As part of industrial development program in the petroleum sector Uzbekistan plans 37 investment projects worth $19.3 billion in 2011-2015. In addition domestic experts and foreign investors are negotiating another 23 projects worth about $7.1 billion.

In the Market / Oil & Gas Uzbekistan

Uzbek oil and gas industry is represented by Uzbekneftegaz, which consists of 6 main joint-stock companies, bringing together more than 120 enterprises of the complex. The main share owned by state.