Issues of expanding bilateral cooperation were discussed with foreign banks

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Issues of expanding bilateral cooperation were discussed with foreign banks

As part of the visit of the Uzbekneftegaz delegation to the UK, the last meeting was held with representatives of Standard Chartered, ICBC Standard Bank, Citi, Deutsche Bank, Barclays and MUFG. The issues of attracting new credit funds were discussed.

During the negotiations, the latest corporate achievements and production results of the company, trends in the oil and gas industry, as well as priority tasks and financing needs for the future were discussed.

The banks expressed great interest in participating in financing the activities of Uzbekneftegaz in 2024-2025.

Various financial instruments were proposed, such as organizing a syndicated loan, issuing additional Eurobonds and hedging strategies. Alternative sources of financing based on the Export Credit Agency (ECA) or the Multilateral Investment Guarantee Agency (MIGA) were also discussed.

Particular attention was paid to projects to reduce emissions, taking into account the specifics of the oil and gas industry and the implementation of environmental, social responsibility and governance (ESG) goals.