Tashkent, Uzbekistan (UzDaily.com) — As part of the government-mandated transformation of JSC Uzbekneftegaz, the company’s delegation held a meeting with representatives of the Fitch Ratings agency in London from 15 to 18 October.

During the meeting, the company’s key achievements over the past 12 months were presented, including increases in oil and gas production, modernization of production facilities, and growth in the export of petroleum products. Special attention was given to accelerating transformational processes within the company, such as enhancing transparency, optimizing management processes, and transitioning to market-based pricing mechanisms.

The discussions also covered state support measures, including tax incentives, financing for new projects, and ensuring a stable regulatory environment.

Fitch Ratings’ representatives commended the rise in natural gas prices, the government’s steps toward the gradual liberalization of the energy market, the appointment of independent members to the company’s supervisory board, and other decisions aimed at supporting the transformation process.

The meeting took place in a constructive atmosphere and marked an important step in fostering long-term relations between JSC "Uzbekneftegaz" and Fitch Ratings.