Saturday, 23, March, 2019

Uzbekneftegaz has offered the Swiss Bluestone Group to take the Fergana refinery in trust management, Uzbekneftegaz said in a statement.

This became known after the talks between the first deputy chairman at Uzbekneftegaz, Ulugbek Sayidov and the executive director of the Bluestone Group, Shlomo Wolf.

"At the talks, the executives of the Swiss company expressed their interest in cooperating in Uzbekneftegaz’s promising projects through equity financing. Ulugbek Sayidov offered to participate in the modernization of the Fergana refinery under the terms of trust management and construction of MTO gas hemical complex " – the statement said.

In addition, the executives of Bluestone Group were invited to attend the Oil & Gas sector business forum organized by Uzbekneftegaz in May 2019.

Following the talks, the parties agreed to meet again and to discuss joint implementation of projects in case foreign investors are interested.

Bluestone Group is an international, privately owned investment group. The Bluestone Group specializes in taking advantage of value-add scenarios such as under-managed properties, developing markets and distressed assets.

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