Till the end of 2008, the Korean company should submit geological survey works’ programme on exploration of Kuskuduk and Ashibulak investments blocks for five years. The sides can sign agreement on geological survey of these two blocks in early 2009.

Daewoo International Corp. and Uzbekneftegaz signed an agreement on studying two investment blocks in northern-western Uzbekistan with the forecasted reserves of 360 million tonnes of standard coal.

According to Uzbekneftegaz, Uzbekistan allocated 44 investment blocks to foreign investors. The country issues licenses on 21 blocks.

Currently, about 210 deposits of hydrocarbon raw materials were opened in Uzbekistan. About 50% of which are under development and 35% is prepared for development. Geological survey is carried out in other deposits.

Capacities of Uzbekneftegaz allow to mine 60 billion cubic meters of natural gas and 8 million tonnes of liquid hydrocarbons a year.

Uzbekistan decreased production of oil and gas condensate by 8.4% year-on-year in 2007 to 4.928 million tonnes and increased natural gas production by 3.9% year-on-year to 65.189 billion cubic meters.