BAKU, Azerbaijan, June 19. Uzbekneftegaz and representatives of Bank of China discussed opportunities to expand financial cooperation and support major investment projects.
This was reflected in the statement by the Uzbekneftgaz, following a meeting held on the sidelines of the Tashkent International Investment Forum.
The meeting was led by Sukhrob Hamroyev, First Deputy Chairman of the Management Board of Uzbekneftegaz, and representatives from the headquarters of Bank of China, one of China's largest financial institutions.
During the discussions, Uzbekneftegaz presented an overview of its recent financial performance.
"The ongoing transformation processes, detailed information was provided on the reforms aimed at improving the corporate governance system in line with international standards and further strengthening the company's financial stability." the Uzbekneftgaz noted.
The parties reviewed Uzbekistan’s broader efforts to support the energy sector, including the expansion of geological exploration activities, increases in hydrocarbon reserves and production volumes, and the introduction of modern digital management solutions.
A significant portion of the talks focused on financing opportunities for Uzbekneftegaz’s investment projects. Discussions covered support for import contracts, the expansion of bilateral and syndicated credit facilities, the use of hedging instruments, the potential issuance of panda bonds in China’s domestic market, and strategies to optimize the company’s debt portfolio.
Company representatives noted that reducing borrowing costs, diversifying funding sources, and attracting long-term financing on favorable terms remain key priorities for Uzbekneftegaz in 2026.
At the conclusion of the meeting, the parties agreed to work toward elevating their partnership to a new level, including cooperation on financing prospective investment projects and expanding mutually beneficial financial ties.
The discussions highlight Uzbekneftegaz’s efforts to secure diversified sources of financing as it pursues modernization and expansion projects. Cooperation with major international lenders such as Bank of China could help the company access long-term capital, broaden its investor base, and strengthen its position in global financial markets.
