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LUKOIL doubles gas production in Uzbekistan

17 August 2018 [17:27] - TODAY.AZ

By Azernews


By Kamila Aliyeva

Russia’s oil giant LUKOIL doubled its gas production in Uzbekistan in January-June 2018, the press service of the company reported.

The company noted that in the first half of the year 16.1 billion cubic meters of gas, which is 20 percent more than in the first half of 2017, was produced.

In the second quarter of 2018, gas production amounted to 8.1 billion cubic meters, which corresponds to the level of the first quarter of 2018 in the average daily expression.

LUKOIL noted that the growth in gas production was achieved due to the successful development of projects in Uzbekistan.

“Thanks to the launch of new facilities for gas preparation, production at Kandym and Gissar increased to 6.1 billion cubic meters in the first half of 2018, which is twice as much as in the first half of 2017,” the company said.

According to the State Statistics Committee of Uzbekistan, in the first half of 2018, Uzbekistan produced 29.34 billion cubic meters of gas, which is 6.3 percent higher compared to the same period in the previous year.

In 2017, LUKOIL produced 9.09 billion cubic meters of gas in Uzbekistan. Gas production in 2018 can grow by more than 60 percent compared to last year's figure and amount to 14.6 billion cubic meters.

Earlier, President of LUKOIL Vagit Alekperov said that in 2019 the company will produce 19 billion cubic meters of gas in Uzbekistan.

Lukoil is operating in Uzbekistan for implementation of two projects based on PSAs – Kandym-Hauzak-Shady and South-West Gissar. In 2018, it is planned to produce 14.7 billion cubic meters of gas from all fields within the PSA framework.

Total volume of gas produced by the company in Uzbekistan has exceeded 40 billion cubic meters. As part of the first two projects, Lukoil plans to produce up to 18 billion cubic meters of gas by 2020 and raise the volume of investments to $8 billion.

Russian company invested $6.5 billion during the whole period of the projects implementation in Uzbekistan.

In 1991-2016, total investments in the oil and gas industry were $30.7 billion, including direct investments and loans worth more than $17 billion, according to Uzbekneftegaz.

Uzbekistan has large mineral reserves, which include more than 1,800 known mineral deposits. The country’s mineral resources include petroleum, natural gas, gold, silver, uranium, molybdenum, tungsten, coal, copper, zinc and lead. Uranium, copper and gold are the country’s chief minerals.

URL: http://www.today.az/news/regions/172998.html

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