President of Uzbekistan meets the head of Lukoil Company
23.01.2009 13:24
The President of Uzbekistan Islam Karimov has received the President of the Lukoil Board of Directors Vagit Alekperov. During the meeting questions of further development of cooperation between the Uzbek enterprises and Lukoil were discussed. Moreover, the parties reviewed progress of collaborative projects, and opportunities for new project development and implementation.

In 2004 between Uzbekneftegaz NHC and Lukoil Co. a production sharing agreement was signed. Its validity period is 35 years. This document provides for over $3 billion investment in Uzbekistans oil and gas industry. Natural gas reserves in the contract area amount to 283 billion cubic meters. The largest gas field - Kandym - holds gas reserves at over 150 billion cubic meters.

A subsidiary Lukoil Overseas Uzbekistan Ltd. has been created in Tashkent It is engaged in the Kandym-Khauzak-Shady-Kungrat project implementation. In 2007 the Khauzak gas deposit was put into operation in Bukharskaya oblast, where gas is transmitted from to Dengizkul-Muborak system. Within the Kandym-Khauzak-Shady-Kungrat project, there are 180 gas wells expected to be drilled, and a gas pipeline 1,5 thousand kilometers long to be laid. With attainment of projected capacity, over 10 billion cubic meters of gas will be produced here annually. Also there is a gas-chemical complex planned to be built, that will annually process about 8 billion cubic meters of gas.