The resource-rich ex-Soviet country produced 56.1 million tonnes of oil and gas condensate in the first eight months of 2021.

The cooperation agreements envisage the allocation of 1.1 billion euros of capital to finance the expansion of the Shurtan Gas Chemical Complex’s production capacity.

The document was signed during the Uzbekistan Economic Forum held in the capital Tashkent last week with the support of the Asian Development Bank and the World Bank.

The total cost of the project to develop the Kalamkas-More and Khazar oilfields in the Caspian Sea is around $5 billion.