With independent auditor’s report

Name of the Subsidiary
Principal activities
Country of
incorporation
Equity interest, %
2020
2019
2018
“Uzburneftegaz” JSC
Exploration and drilling
Uzbekistan 
Not applicable** Not applicable**
51%
“Uzneftegazdobicha” JSC
Oil and gas production
Uzbekistan 
Not applicable** Not applicable**
41%*
“Mubarekneftegaz” JSC
Oil and gas production
Uzbekistan 
Not applicable** Not applicable**
41%*
“Ustyurtgaz” LLC
Oil and gas production
Uzbekistan 
Not applicable** Not applicable**
41%*
“Gazlineftegazdobicha” LLC
Oil and gas production
Uzbekistan 
Not applicable** Not applicable**
41%*
“Shurtanneftgaz” LLC
Oil and gas production
Uzbekistan 
Not applicable** Not applicable**
41%*
“Gissarneftegaz” JV LLC
Oil and gas production
Uzbekistan
55%**
55%**
26%*
“Kokdumaloq-gaz” JV LLC
Oil and gas production
Uzbekistan
62.5%**
62.5%**
33%*
“Mubarek Gas Refinery Plant” LLC
Gas processing
Uzbekistan 
Not applicable** Not applicable**
41%*
“Shurtan Gas Chemical Complex”
LLC
Petrochemicals production
Uzbekistan
100%**
100%**
41%*
“Uznefteproduct” JSC
Sales of refined oil products
Uzbekistan 
Not applicable** Not applicable**
66%
“Bukhara Refinery Plant” LLC
Oil refining
Uzbekistan
100%**
100%**
66%
“Fergana Refinery Plant” LLC
Oil refining
Uzbekistan
0%**
100%**
66%
“Uzbekistan GTL” LLC
Gas-to-liquids production
Uzbekistan
100%**
100%**
100%
*
Despite the fact that participating share in equity is less than 50 percent, the Group has a control according to IFRS 10.
**
In 2019 according to Decree of President of the Republic of Uzbekistan No. 4388 from 9 July 2019, a number of subsidiary enterprises (JSC
“Uzburneftegaz”, JSC “Uzneftegazdobicha”, JSC “Uznefteproduct”, JSC “Mubarekneftegaz”, “Mubarek Gas Refinery Plant” LLC, “Ustyurtgaz” LLC,
“Gazlineftegazdobicha” LLC, “Shurtanneftegaz” LLC) were merged into JSC “Uzbekneftegaz”. Following the reorganization the share interest of
these enterprises in their subsidiaries (“Gissarneftegaz” JV LLC, “Kokdumalak” JV LLC, “Bukhara Refinery Plant” LLC, “Shurtan Gas Chemical
Complex” LLC, “Fergana Refinery Plant” LLC) were transferred directly to JSC “Uzbekneftegaz”, that led to increase in equity share (Note 21). In
March 2020 the Group transferred 100% share interest in “Fergana Refinery Plant” LLC to the State Asset Management Agency (Note 6).

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