LUKOIL to reach projected level of gas production in Uzbekistan in 2018

By Azernews

By Kamila Aliyeva

Russia’s oil giant LUKOIL intends to reach the projected level of gas production in Uzbekistan in 2018, according to the documents of the company.

Director for work with capital markets, acquisition and sale of assets of LUKOIL Pavel Zhdanov noted that the company is pleased with the implementation of projects in Uzbekistan.

LUKOIL increased gas production in Uzbekistan in the first quarter of 2018 more than two times compared to the same period in 2017, according to Zhdanov. In the first quarter of 2018, the company in Uzbekistan produced up to 191,000 barrels of oil equivalent per day against 93,000 barrels of oil per day in January-March 2017.

Gas production in the Gissar field in the first quarter of 2018 amounted to 72,000 barrels of oil equivalent per day (26,000 barrels of oil per day) and in Kandym – 119,000 barrels (68,000 barrels).

Zhdanov stressed that the increase in gas production in Uzbekistan is due to the launch of new facilities in Gissar and the first stage of the Kandym gas processing complex. He added that the company has already started work on the second stage of the complex.

Within these two projects, LUKOIL plans to produce up to 18 billion cubic meters of gas in 2019.

LUKOIL has been operating in Kazakhstan since 1995. The company is a party to several onshore production projects and a member of the Caspian Pipeline Consortium (CPC). LUKOIL has been investing substantially both in production projects and in the region’s social development.

In Kazakhstan, LUKOIL owns stakes in three oil projects, that is Tengiz (5 percent share), Karachaganak (13.5 percent) and Kumkol (50 percent). LUKOIL also develops fields in the north of the Caspian Sea in the Russian sector - Filanovsky and Korchagin (15 million tons have been extracted since 2010).