LUKOIL invests US$160m into exploration and mining in Uzbekistan in 1Q
16/06/2015 13:18
LUKOIL invests US$160m into exploration and mining in Uzbekistan in 1Q
16/06/2015 13:18
Tashkent, Uzbekistan (UzDaily.com) -- Russian oil company LUKOIL invested US$160 million into exploration and mining in Uzbekistan in the first quarter of 2015, the company’s financial report said.
According to Russian firm, the volume of capital expenses to exploration and mining in Uzbekistan grew from $133 million in the first quarter of 2014 to US$160 million in January-March 2015. The growth rate made up 20.3% year-on-year
LUKOIL noted that the company increased gas extraction in Uzbekistan. At the same time, the company did not reveal the volume of extracted gas in Uzbekistan.
The volume of mining of gas abroad increased by 10.2% year-on-year in the reporting period, mainly due to growth of gas production in Uzbekistan and Azerbaijan, the company said.
Currently, LUKOIL implement three product-sharing agreements in Uzbekistan – Kandym-Khauzak-Shady-Kungrad, Southern-Western Gissar and exploration of the Uzbek part of Aral. So far, LUKOIL produced over 20 billion cubic meters of gas in Uzbekistan.
The company will produce about 17-18 billion cubic meters of gas a year in Uzbekistan by 2020.
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