The presentation of WorleyParsons Uzbekistan Engineering has been held in Tashkent on 12 May 2011, Uzbekneftegaz national holding company said in a statement.

The joint venture was created by WorleyParsons, Uztyajneftegazhimroyekt (Uzbek Heavy Oil, Gas and Chemical Poject) and UzLITIneftegaz.

The joint venture’s activity will be directed to several directions in line with the key directions of industrial development of Uzbekistan.

In particular, the enterprise will search and develop new project ideas directed at deep processing natural resources based on attracting advanced technologies and foreign partners.

WorleyParsons Uzbekistan Engineering will also develop optimal technical solutions for large high-technologic projects in oil and gas, petrochemical, chemistry and energy sectors.

The venture will also develop projects on modernization, technical and technological re-equipment of existing capacities and attracting perspective partners for project implementation and financing.

The company will also develop feasibility studies in line with the international standards, train specialists, etc.

Uzbekneftegaz recalled that WorleyParsons, Uztyajneftegazhimroyekt (Uzbek Heavy Oil, Gas and Chemical Poject) and UzLITIneftegaz signed a memorandum of understanding on creation of the joint venture.

On 17 February 2011, the sides approved the charter and constituent agreement of the joint venture WorleyParsons Uzbekistan Engineering.

On 31 March 2011, the government of Uzbekistan approved a resolution “On creation of the enterprise with foreign investments WorleyParsons Uzbekistan Engineering”.

On 25 April 2011, WorleyParsons Uzbekistan Engineering JV LLC has been registered with Justice Ministry and received a certificate on registration of legal entity.