Abdurahmonov Jahongir Umidbek o’g’li; Imamova Dilfuza Ismailovna

Authors

Abdurahmonov Jahongir Umidbek o’g’li Master’s Student at the Faculty of International Business Law, University of World Economy and Diplomacy, Tashkent, Uzbekistan
Imamova Dilfuza Ismailovna Candidate of Legal Sciences, Associate Professor, University of World Economy and Diplomacy, Tashkent, Uzbekistan

Keywords:

Production Sharing Agreements, transparency, subsoil use

Abstract

The article addresses the deficit of transparency in the contractual terms of production-sharing agreements (PSAs) within the Republic of Uzbekistan's oil and gas sector. The research objective is to identify the regulatory and institutional barriers that impede public access to contractual provisions and to formulate measures for their removal. The methodology integrates doctrinal analysis, comparative-legal and normative-value approaches, complemented by case studies of the Lukoil and CNPC agreements. The findings confirm the imperative of legislatively mandating PSA disclosure, establishing an independent monitoring authority, and institutionalising public engagement. Collectively, these reforms would enhance investment robustness, curtail corruption risks, and consolidate the rule of law.

References

I. Legal Acts and International Treaties

Law of the Republic of Uzbekistan “On Subsoil” (as amended on 23 December 2023);

Law of the Republic of Uzbekistan “On Investments and Investment Activities” (2019);

Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 54 dated 15 March 2002 “On Measures for Improving the Procedure for the Conclusion and Execution of Production Sharing Agreements”;

Energy Charter Treaty (signed in Copenhagen on 17 December 1994, entered into force on 16 April 1998);

UNCITRAL Model Law on Public Procurement and Model Law on Public–Private Partnerships (2011);

Extractive Industries Transparency Initiative (EITI), Standard 2019;

II. Monographs and Academic Publications

Tordo, Silvia, John C. Adams, Vivien E. Turquoís. Oil and Gas Production Sharing Contracts: Experience to Date. ESMAP Report 27096, World Bank, 2011;

Parra, Francisco R. Sovereign States and International Oil Companies: A Framework for Analysis. Oxford University Press, 2004;

Stern, Jonathan. The Pricing of International Oil Contracts. Oxford University Press, 2001;

UNCTAD. National Legal Frameworks for Production Sharing Contracts and the Need for Technical Assistance. United Nations Conference on Trade and Development, 2006;

III. Online Resources and Reports

Extractive Industries Transparency Initiative (EITI), “Standard & Requirements”, https://eiti.org/standard);

Official Text of the Energy Charter Treaty, https://energycharter.org/process/energy-charter-treaty;

UNCITRAL, “Model Laws”, https://uncitral.un.org/model-laws;

Azerbaijan PSA Registry, https://www.oilfund.az/en/psa;

Norwegian Petroleum Directorate - Contract Database, https://www.npd.no/en/facts/production-licences;

SKK Migas ((Indonesia) – PSC Data Portal, https://www.skkmigas.go.id/portal;

Comisión Nacional de Hidrocarburos (Mexico) – Ronda Portal, https://www.cnh.gob.mx/rondas;

World Bank, Doing Business 2024, https://www.worldbank.org/doingbusiness.

Legal Framework for Ensuring Transparency of Production Sharing Agreements in Uzbekistan’s Oil and Gas Sector: Challenges and Reform Pathways

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