On May 2 of this year, the senior management of the Ministry of Investment and Foreign Trade, the Ministry of Finance, the Ministry of Energy of Uzbekistan, the Ministry of Energy and Industry of the United Arab Emirates, as well as other leading oil and gas corporations held intergovernmental negotiations.

During negotiations, they discussed projects involving UAE companies Mubadala and Masdar in the field of geological exploration, increase of production at existing and developing new hydrocarbon fields, as well as field of alternative energy.

Following the negotiations, the parties agreed on procedure and deadlines for cooperation to implement these initiatives. Thus, in May, the Uzbek delegation will have a business trip to UAE to work out specific projects. By the end of the year, it is planned to complete all the preparatory and legal procedures to begin implementation.