BAKU, Azerbaijan, August 14. Uzbekistan’s
Uzbekneftegaz and Qatar’s AL ALFIA HOLDING discussed opportunities
to expand cooperation and launch joint projects in the oil and gas
sector, including plans to localize lubricant production and
develop oilfield equipment manufacturing.
This was reflected in the statement by Uzbekneftegaz, following
a meeting between Uzbekneftegaz Chairman Abdugani Sanginov and
Zaynab Al-Yusuf, a representative of the Chairman of the Board of
Directors of AL ALFIA HOLDING.
According to Uzbekneftegaz, in the course of the meeting, the
sides noted the steady development of trade and economic relations
between Uzbekistan and Qatar and exchanged views on expanding
cooperation in the energy sector.
The meeting focused on the possibility of localizing the
production of lubricants and related materials at Uzbekistan GTL,
as well as establishing domestic production of wellhead
equipment.
The proposed localization projects could help expand domestic
manufacturing capacity, reduce reliance on imported industrial
products, and create opportunities for technology and expertise
transfer.
The sides also considered opportunities for AL ALFIA HOLDING to
participate in promising projects currently being developed by
Uzbekneftegaz.
“The parties confirmed their readiness to further develop
mutually beneficial cooperation and continue practical work in the
agreed areas,” Uzbekneftegaz said.
The talks come as Uzbekistan continues efforts to attract
foreign investment and expand industrial cooperation in the oil and
gas sector, with a growing focus on localizing production and
increasing the domestic value added of energy-related projects.
For Qatar-based investors, Uzbekistan’s expanding energy
infrastructure and industrial development agenda offer
opportunities to participate in new manufacturing and energy
projects.
The sides agreed to maintain dialogue and continue practical
work on the proposed initiatives, including cooperation related to
lubricant production, wellhead equipment, and other promising
projects.
