American-Uzbekistan Chamber of Commerce
BUSINESS NEWSLETTER
  
Week in Review:

May 10, 2013 - May 17, 2013
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2013 Marks AUCC 20th Anniversary

Since 1993 the American-Uzbekistan Chamber of Commerce has been at the forefront of advancing trade and business relations between the US and the Republic of Uzbekistan. AUCC prides itself in catering to the needs of our members, providing them with a platform to interact with policy makers in the US and the Republic of Uzbekistan and ensuring that bilateral commercial relations continue to be on the governments' top agenda.   

 

For the last twenty years AUCC has been a vigorous advocate of the views of the business community to ensure that private sector positions are considered during the development of policies that impact American businesses and the future of U.S.-Uzbekistan relations.    

 

We are delighted that today AUCC is a well-known organization that is recognized for its strength and ability to work closely with a great number of partner organizations. AUCC enjoys excellent working relations with the Embassy of the Republic of Uzbekistan in Washington, D.C., the Government of the Republic of Uzbekistan, Uzbek ministries, associations and organizations as well as the executive and legislative branches of the U.S. AUCC also coordinates its efforts with a great number of international financial institutions, business councils and other professional organizations.

If your company is interested in joining AUCC, please contact our office at 202-509-3744 or [email protected]  We invite you to be part of our organization and participate in our activities and events.   

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In This Issue:
AUCC IN BRIEF
Uzbekistan to legislatively approve principle of mutual consent to international arbitration
Uzbekistan, Gazprom may sign second PSA by late 2013
Tethys Petroleum Limited: Protocol of Intent signed in Uzbekistan
Uzbekistan, UK discuss issues of deepening inter-parliamentary dialogue
Oberthur Technologies deliver Uzbekistan ePassport solution

Established in 1993, the American-Uzbekistan Chamber of Commerce (AUCC) is a private, non-profit trade association representing interests of U.S. businesses ranging in size from small private enterprises to large, multinational corporations conducting business in Uzbekistan.

Our Mission: To advocate the views of the business community to ensure that private sector positions are considered during the development of key policies that impact American businesses and the future of U.S.-Uzbekistan relations.

Our Objective: To serve the needs of its members by strengthening commercial relations between the United States and Uzbekistan.

http://en.trend.az  

 

This autumn the Government of Uzbekistan is going to develop and to submit to the Parliament of the country amendments to the Law 'On guarantees and measures of protection of foreign investors' rights, establishing the principle of mutual consent to participation in international arbitration, First Deputy Minister of Justice of the country Esemurat Kanyazov said at the international conference 'Oil and Gas of Uzbekistan'.

In particular, amendments to the Article 10 regulating issues of settlement of investment disputes will be submitted for consideration by the parliament.

"This article only defines possible options of solving investment disputes, and does not provide for Uzbekistan's consent to the submission of all arising disputes for the arbitration. But some investors wrongly interpret this aspect, and we have to clarify this," Deputy Justice Minister said.

According to Kanyazov, the amendment will fix the situation, providing for the consideration of Uzbekistan's consent to submission of investment disputes for international arbitration in each case separately and expressed in written form.

In recent years a number of foreign companies have declared their application to an international arbitration or their intention to apply in response to the actions of the Uzbek Government in connection with their business in the country.

In a number of cases, the Government of Uzbekistan has not provided its written consent to arbitration, referring to the lack of an appropriate legal framework.

 

http://www.azernews.az  

 

The Uzbek Government and Russian giant Gazprom plan to sign a production sharing agreement (PSA) on the development of the Jel field in Ustyurt (north-west of the country) by the end of 2013, Uzbekneftegaz National Holding Company (NHC) official Shokir Fayzullayev told reporters on Monday.

"We will make a decision by the end of the year and get to work on the project," Fayzullayev said.

He noted that the PSA for the Jel field is part of large plans for the development of cooperation between Uzbekneftegaz and Gazprom.

According to the statistics of the holding, Gazprom conducted supplementary exploration of the field and determined the availability of 14 productive horizons, reserves of which are currently approved by the Uzbek State Commission on Reserves of the Government. However, their amounts were not disclosed.

According to preliminary calculations, the field's gas reserves could reach about 10 billion cubic meters.

Earlier it was reported that in 2012, the company carried out explorations at the Jel field and completed 3D seismic exploration over 200 square kilometers. Three more wells were drilled on the field.

The PSA for the Jel field will be the second production sharing agreement implemented by Gazprom in Uzbekistan.

In August 2004, Gazprom started the natural gas production in the Shakhpakhty field in Ustyurt with design capacity of 500 million cubic meters based on a PSA with a 15-year term.

In 2012, the company implemented a project on the reconstruction and further development of the Shakhpakhy field. It commissioned five of 19 wells that were planned to be restored.

The total cumulative gas production at Shakhpakhty currently exceeds 2.2 billion cubic meters. According to the 2012 results, gas production in this field increased by 1.4 times compared to 2011 to 300 million cubic meters.

In February 2012, Gazprom announced the completion of exploration work in Uzbekistan's Ustyurt region worth $400 million and its intentions to expand the raw material base of its projects in the country.

http://www.marketwire.com 

 

Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL)(LSE:TPL) today announced that it has signed a Protocol of Intent ("POI") with the Uzbek State oil and gas company, National Holding Company "Uzbekneftegaz" ("UNG") for exploration work on the Bayterek block in the North Ustyurt Basin of Northern Uzbekistan.

The POI for the Bayterek Investment Block follows on from the previous MOU and "Agreement on basic principles of the Exploration Agreement" between UNG and TPL. TPL and the Institute of Geology and Exploration of Oil and Gas Fields of UNG have jointly developed an Exploration Programme for the Block.

Tethys and UNG intend to execute an Exploration Agreement in accordance with the legislation of the Republic of Uzbekistan, and upon approval of the Exploration Program by the Government of the Republic of Uzbekistan both parties intend to complete negotiations, and will seek issuance of an appropriate Decree of the Government of Uzbekistan, within one calendar year.

Dr. David Robson, Executive Chairman and President of Tethys, commented: "The signing of the Protocol of Intent is a significant step forward with our partners Uzbekneftegaz to work together on exploring the North - West of Uzbekistan. We believe this area has great exploration potential and we look forward to using our working knowledge of the area to best exploit this attractive block."

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to our operations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. See our Annual Information Form for the year ended December 31, 2012 for a description of risks and uncertainties relevant to our business, including our exploration activities (which are incorporated herein by reference). The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

http://en.trend.az 

 

In Uzbekistan, Chairman of the All-Party Group "Britain-Uzbekistan" of the British Parliament, Lord John Waverley and members of the Senate - the upper house of the Parliament of Uzbekistan - discussed issues of deepening wide range of Uzbek-British relations yesterday, Uzbek National News Agency (UzA) reported.

According to the report, during the discussions, the parties noted that the inter-parliamentary dialogue is a key component of bilateral relations, stimulating further development of cooperation in trade, economic, investment, cultural and humanitarian and other fields.

The meeting considered the course of fulfillment of the memorandum of understanding between the Group of Oliy Majlis of Uzbekistan on cooperation with the British Parliament and the All-Party Group "Britain-Uzbekistan".

The sides stressed that cooperation between Uzbekistan and the United Kingdom is developing in many ways, including in the parliamentary system, and both sides are interested in further enhancing and strengthening of cooperation in this area.

Meetings of the Uzbek-British Trade and Industry Council, organized for the consistent development of trade and economic relations and strengthening of ties between the business communities of the two countries, are held regularly.

On the same day, Lord John Waverley held talks at the Foreign Ministry of the Uzbek Republic, during which an exchange of views was held on certain international and regional problems.  

http://www.moneycontrol.com 

 

Oberthur Technologies, one of the world's largest providers of security and identification solutions and services, has announced the signing of the final acceptance of the Uzbekistan e-Passport system, in the presence of Mr Elyor Majidovich GANIEV, Minister of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan.

As a system integrator and thanks to its strong system expertise worldwide, Oberthur Technologies has implemented over the last two years a turnkey end-to-end identity system solution including citizen enrolment, e-passport personalisation, document verification, border control and authentication. Uzbek citizens can now benefit from the latest state-of-the-art secure electronic passports, provided by Oberthur Technologies.

To enhance the security level of the Uzbekistan passport, which also serves as a national identity document, Oberthur Technologies provides a strong Public Key Infrastructure (PKI). This is based on system-One™ PKI for eMRTD¹ which offers a secure and modular infrastructure to manage dedicated digital certificates, compliant with ICAO and EAC standards.

In addition, Oberthur Technologies closely assists the Uzbek government in the upgrade of their infrastructures in order to assembly and manufacture secure passports.

"Oberthur Technologies is very proud to have been selected by the Republic of Uzbekistan to provide its state-of-the-art ePassport solution. Through its system integration know-how, document issuance and security expertise, Oberthur Technologies was able to deliver a full ePassport system, a cost-wise solution which was quickly deployed. The solution can be also upgraded in terms of capacities and performance, and support other applications", said Olivier PRESTEL, the Identity BU Managing Director.

MRTD¹: Machine Readable Travel DocumentsICAO²: International Civil Aviation OrganisationEAC³: Extended Access Control

About Oberthur Technologies: Oberthur Technologies is a world leader in the field of secure technologies: systems development, solutions and services for smart cards (payment cards, SIM cards, access cards, NFC...) and for secure identity documents, traditional and electronic (identity card, passport, health care card). Created in 1984, Oberthur Technologies employs over 6 000 employees. With 50 sales offices across 5 continents, Oberthur Technologies' international network serves clients in 140 countries.For more information: www.oberthur.com 


CONTACT INFORMATION:aucc logo
The American-Uzbekistan
Chamber of Commerce
 
1300 I Street, N.W.,
Suite 720W
 
Washington, DC 20005
 
phone: 202.509.3744
 
[email protected]

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