OREANDA-NEWS. April 01, 2008. Oil and energy complex is a main link in the dynamically developing trade and economic relations of Uzbekistan with Russia. Priority importance is attached to the interaction in investment sphere, first of all, the large-scale projects in oil and energy complex, reported the Official website www.investuzbekistan.uz.

About 700 companies with Russian investment are now operating in Uzbekistan, including Gazprom, Lukoil, RAO UES of Russia, and others.

Since 2006 Gazprom open joint-stock company has been holding the vast geological exploring works on the seven investment blocks allocated for the company in the Usturt region of Uzbekistan, Jahon information agency reported quoting UzA.

Gazprom's affiliate company Zarubejneftegaz accomplishes the strategic tasks on exploration and assimilation of these territories. At the moment, the geological make-up of investment blocks has been specified with the use of seismic exploration. Two prospective gas-bearing structures – Tejekazgan and Umanbai have been discovered in the Kungrad District of Karakalpakstan in the precinct of Agyin investment block. Drilling of four search holes was launched.

Experts will soon take up drilling the search holes on the fields of Allan-Agyin and northern Alambek Akchalak investment blocks. Arrangement works are now in full swing.

The successful implementation of the investment project unique both on its scale and complexity given the tough conditions in Usturt becomes possible thanks to the joint and concerted work by Russian and Uzbek specialists.