Uzbekistan’s second-largest oil refinery, Fergana, will be able to produce Euro 5-standard gasoline next year, the refinery’s new owner, Sanoat Energetika Guruhi (SEG), said on Wednesday.
A technical re-equipment project, to fully modernize the 63-year-old facility, is expected to cost US$400 million and be completed by the end of 2023, SEG said in a statement.
SEG, the largest private oil and gas company in Uzbekistan, bought the entire state stake in the Fergana oil refinery in June this year.
Uzbekistan, a resource-rich Central Asian nation that has embarked on a series of economic reforms in recent years, including massive privatization, has two major refineries, Bukhara and Fergana, both of which relied on technology aging for decades.
