Meta Data
Title in national language: 
Ўзбекистон Республикаси Президентининг фармони 2000 й. № ПФ-2598-сон "Нефть ва газ конларини разведка қилиш ҳамда уларни қазиб чиқаришга бевосита хорижий сармояларни жалб этиш чора-тадбирлари тўғрисида"/ Указ Президента Республики Узбекистан от 28.04.2000 № ПФ-2598 «О мерах по привлечению прямых иностранных инвестиций в разведку и добычу нефти и газа»
Draft: 
No
Revision of previous policy?: 
No
Effective Start Year: 
2000
Scope: 
National
Document Type: 
Decree
Economic Sector: 
Energy
Energy Types: 
Oil, Gas
Issued by: 
President of the Republic of Uzbekistan
Notes: 
No English translation available
Overall Summary: 
The purpose of the document is to improve the efficiency of prospecting and exploration work, increase the volume of explored reserves of hydrocarbon raw materials and create favorable conditions for attracting foreign direct investment in the oil and gas economic sector of the republic.---[Russian]: Цель документа – повышение эффективности поисковых и разведочных работ, увеличение объемов разведанных запасов углеводородного сырья и создание благоприятных условий для привлечения прямых иностранных инвестиций в нефтегазовый сектор экономики республики.
Investment
Energy sector investment priorities: 
In order to increase the efficiency of prospecting and exploration work, increase the volume of explored hydrocarbon reserves and create favorable conditions for attracting foreign direct investment in the oil and gas sector of the republic's economy: 1. To determine that intensive exploration and exploration work in the Ustyurt region and other promising oil and gas regions of the republic, widespread attraction of foreign direct investment for these purposes are the most important priority in the development of the oil and gas industry of the Republic of Uzbekistan. 2. To establish that newly discovered oil and gas fields in the Ustyurt region can be provided to foreign companies that have carried out exploration work at these fields for development on a concession basis for up to 25 years with the right to extend the development period. 3. To provide foreign companies involved in prospecting and exploration work for oil and gas with the most-favored-nation treatment, which ensures: the exclusive right to conduct prospecting and exploration work in a certain territory with the subsequent development of any of the deposits discovered in the indicated territory by creating a joint venture or on a concession basis; the preemptive right to provide a new territory for the continuation of prospecting and exploration works in the event that resources of industrial value have not been identified in the territories specified in the contract for these works; the right of ownership and unimpeded export of the part of the produced hydrocarbons, as well as the products of their processing on a tolling basis, provided for by the constituent documents of the joint venture or the concession agreement; a guarantee to reimburse the actual costs of prospecting and exploration work when discovering fields of industrial value, in cases of transferring them for further development to the Joint Stock Company Uzbekneftegaz.
Tax and duty exemptions for energy equipment: 
4. To exempt foreign companies carrying out prospecting and exploration work for oil and gas, as well as foreign contractors and subcontractors attracted by them from paying: income tax (excluding interest received from funds deposited in commercial banks), property tax from legal entities, land tax from legal entities, tax for the use of water resources, for the period of exploration; customs payments (except for value added tax and customs clearance fees) when importing equipment, material and technical resources and services necessary for conducting prospecting, exploration and other related work.