Uzbek President and head of Lukoil discuss construction of gas processing

Uzbek President and head of Lukoil discuss construction of gas processing

Lukoil President of Uzbekistan Islam Karimov and Head of Lukoil Vagid Alekperov discussed on Tuesday in Tashkent construction of a modern gas processing plant in Bukhara region worth $3 billion, reported UzA.


Other companies included in the consortium, will take part in the construction of the plant. Project implementation period was not called.


The parties also discussed number of other ongoing projects, including development of Kandim group of fields in the country and enhancing cooperation in the fields of Ustyurt.


Lukoil's direct investments in oil and gas complex of Uzbekistan totaled $3.2 billion, and for the first 9 months of this year - about $500 million.


Currently Russian company produces gas at Khauzak-Shady field in Bukhara region, as well as at Djarkuduk-Yangi Kyzylcha field block in Southwestern Hissar. In addition Lukoil conducts exploration of the Uzbek part of the Aral Sea as part of the international consortium.


Within the first two projects under the Product Sharing Agreement (PSA) Lukoil plans to produce 18 billion cubic meters of gas by 2017, and to bring up volume of investments to $5 billion compared with nearly $2 billion invested to date.


In accordance with the State Investment Program, Lukoil will invest $678.5 million in 2013 in implementation of two PSAs in Uzbekistan with a total value of $4.3 billion.









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