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Journal of Energy & Natural Resources Law Volume 19, 2001 - Issue 4
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Original Articles

Legal Regime for Hydrocarbon Development in Uzbekistan

Jonathan H Hines Mr Hines is a partner of the LeBeouf-Lamb Greene & MacRae, LLP international law firm, based in Moscow; he supervises the firm's CIS-region oil and gas practice. Mr Sievers is an associate of this firm, dividing his time between the Amaty, Tashkent and Boston offices. The authors gratefully acknowledge the assistance of Nazim Yakupov, associate in the firm's Tashkent office, in the preparation of this article. An earlier version of this article was presented at the Oil and Gas Uzbekistan (OGU) Conference held in Tashkent in May 2001. It has since been substantially revised and updated to account for developments up to late September 2001. The authors can be contacted by e-mail at, respectively, [email protected] and [email protected].
&
Eric A Sievers Mr Hines is a partner of the LeBeouf-Lamb Greene & MacRae, LLP international law firm, based in Moscow; he supervises the firm's CIS-region oil and gas practice. Mr Sievers is an associate of this firm, dividing his time between the Amaty, Tashkent and Boston offices. The authors gratefully acknowledge the assistance of Nazim Yakupov, associate in the firm's Tashkent office, in the preparation of this article. An earlier version of this article was presented at the Oil and Gas Uzbekistan (OGU) Conference held in Tashkent in May 2001. It has since been substantially revised and updated to account for developments up to late September 2001. The authors can be contacted by e-mail at, respectively, [email protected] and [email protected].
Pages 387-402 | Published online: 08 Jun 2015
 
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Abstract

Uzbekistan may be due for some positive reappraisal by investors thanks to recently-enacted measures improving the legal regime for hydrocarbon development, two new precedent-setting PSAs in progress between the government and foreign investors, and plans to privatise parts of the oil sector and seek substantial foreign investment to facilitate exports. Yet, while some investors may already find Uzbekistan an attractive partner, especially in light of the immense size of the country's reserves, others may find that it will still have to do more in order to attract the investments it needs.

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