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Oil-gas industry

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The Republic of Karakalpakstan has large reserves of natural gas and oil. The country's chemical industry is developing on the basis of rich oil and gas deposits.

Ustyurt gas chemical complex is one of the world's largest projects in the oil and gas sector. The international edition of Project Finance International recognized in 2012 the project Finance agreement on this project as the best in the petrochemical and gas chemical sector. The project was also awarded the international "Best deal of 2012" awards by Trade Finance Magazine and Global Trade Review. On March 13, 2014, another international publication, Infrastructure Journal, awarded the complex's construction project the "global deal of 2014 in the oil and gas sector" award.

Ustyurt gas chemical complex is one of the most expensive industrial projects in the world history and at the same time an example of successful cooperation with foreign investors.