LUKOIL Overseas and Khokimiat (Administration) of Tashkent have signed a Memorandum of long-term cooperation in the area of economy, humanitarian activity, social welfare and development of the city today in Tashkent, the capital of the Republic of Uzbekistan, LUKOIL Overseas reports.
Within the framework of the Memorandum, the parties undertake to exchange available information on the issues of mutual interest as well as to hold joint consultations and meetings, establish necessary contacts with third parties and inform each other of results of such contacts. The Memorandum does not limit the rights of the parties to develop the other forms of cooperation in accordance with the laws of the Republic of Uzbekistan. The document came into effect after it was signed and will remain in force for three years.
This document is the first of its kind ever signed by LUKOIL Overseas in Uzbekistan. Similar documents will be also signed with local authorities in the regions of the country where LUKOIL Overseas has its operations, such as Bukhara and Kashkadarya regions.
At present LUKOIL Overseas together with National Holding Company Uzbekneftegaz implements the largest investment project in Uzbekistan, Kandym-Khauzak-Shady-Kungrad. LUKOIL Uzbekistan Operating Company was incorporated in Uzbekistan and more than 80% of its employees are citizens of Uzbekistan. When awarding contracts priority is given to Uzbek contractors.
LUKOIL carries out extensive charitable and sponsorship activity in Uzbekistan substantially supporting a wide range of medical, educational, cultural and other social institutions. Company in future, along with the unconditional performance of its budget obligations, will attach a priority importance to implementation of social programs.