Russian and Uzbekistan to expand energy cooperation
09/12/2014 10:36
Russian and Uzbekistan to expand energy cooperation
09/12/2014 10:36
Tashkent, Uzbekistan (UzDaily.com) -- Russian and Uzbekistan will consider expansion of cooperation in energy sector during the official visit of the President of Russia Vladimir Putin to Uzbekistan on 10 December 2014, aide of the Russian leader Yury Ushakov told journalists.
The President of Russia Vladimir Putin to Uzbekistan will pay the official visit to Uzbekistan on 10 December 2014 at invitation of his Uzbek counterpart Islam Karimov.
Ushakov said that the agenda includes issues on expansion of cooperation in energy sector, RIA Novosti reported.
Lukoil is participating in the project to develop the Kandym-Khauzak-Shady and Kungrad gas condensate fields in southwestern Uzbekistan. Lukoil signed the production-sharing agreement (PSA) to the Kandym-Khauzak-Shady block in 2004. Production began at Khauzak in the fall of 2007.
Lukoil is also developing the South-West Gissar project in central Uzbekistan. The PSA for that project was signed in January 2007. Investment will top $1.2 billion. The project is slated to produce 4.2 billion cubic meters (billion cubic meters of gas) of gas a year. Production commenced at the end of 2011. In addition, Lukoil is participating in the Aral block project.
Lukoil plans to produce 18 billion cubic meters of gas a year in Uzbekistan by 2016.
Russian gas giant Gazprom also has operations in Uzbekistan. It boosted production 5% in 2013 to over 315 million cubic meters. A total of US$390 million has been invested in geological exploration of the Ustyurt region over five years.
Gazprom continues developing the Shakhpaty gas field. Cumulative production since August 2004 now exceeds 2.5 billion cubic meters of gas. The feasibility study for the Jel field discovered in 2009 with reserves estimated at 6.4 billion cubic meters of gas is currently being prepared.
Ushakov said cumulative Russian investment in Uzbekistan now tops US$6 billion.
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