Gas Project Development Central Asia and Uzbekneftegaz sign additional agreement to PSA
21/10/2018 12:19
Gas Project Development Central Asia and Uzbekneftegaz sign additional agreement to PSA
21/10/2018 12:19
Tashkent, Uzbekistan (UzDaily.com) -- Gas Project Development Central Asia Company and Uzbekneftegaz signed an additional agreement to the production sharing agreement regarding the investment block “Independence of Uzbekistan” in Surkhandarya region of Uzbekistan.
The document was signed in the framework of the state visit of the President of the Russian Federation Vladimir Putin to Uzbekistan.
Under the agreement, an enterprise SURHAN INVESTMENTS LIMITED will be created to attract project financing. The agreement approves the commercial terms of the project, including the proportion of production sharing between the state and the investor.
The development of the field, which is one of the largest in Uzbekistan, is stipulated by the production sharing agreement regarding the Uzbekistan Independence investment block, signed during the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to Russia in April 2017.
The agreement envisages drilling of wells, development of the 25 Years of Independence field, exploration in the investment block, construction of a gas processing plant and construction of a gas-chemical complex for production of polymer products in the next stage. The planned investment in the first phase will be more than US$2 billion.
The project will be implemented in two stages. At the first stage (2018-2022): it is planned to drill wells, develop the M25 field, conduct geological exploration in the investment unit, build infrastructure and a gas processing plant.
The second stage (2023-2025) involves the construction of a gas-chemical complex for production of polymer products with the deep processing of marketable gas.
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