Malaysia’s KNM Group BHD and Russia’s Lukoil Uzbekistan Operating Company have signed $71.63 million contracts with the Uzbek government for equipment supply.

The majority of Uzbekistan’s prospected oil fields are operated by state-owned oil and gas group Uzbekneftegaz, which is seeking to form joint venture partnerships with international companies to boost its out from its current level of roughly 105,000 barrels per day.

Oil consumption between 2010 and 2019 is set to increase by 55.1 percent, with