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Economy 09/03/2010 Lukoil extracts 6bn cubic meters of gas at Khauzak field
Lukoil extracts 6bn cubic meters of gas at Khauzak field
Tashkent, Uzbekistan (UzDaily.com) -- Russia’s Lukoil extracted its 6th billion cubic meters of gas at Khauzak field of Dengizkul deposit (Kashkadarya region) within the Kandym-Khauzak-Shady product-sharing agreement, Lukoil Uzbekistan Operating Company, project operator, said in a statement.

The company said successfully realized measures on preparation to work in autumn-winter period, including works on preparing gas producing and special equipment, allowed to achieve this, implement tasks and plans for 2009.

As earlier planned, Lukoil Uzbekistan Operating Company extracted 6th billion cubic meters of gas in the early March 2010, the operator said.

The operator said Lukoil Uzbekistan Operating Company looks to future with confidence and puts new tasks.

The Kandym-Khauzak-Shady product-sharing agreement was signed on 16 June 2004. In November 2007, the Khauzak gas field was introduced into operation.

Proved geological natural reserves at contract territory is 329 billion cubic meters. At the end of February, the company increased its gas reserves at Khauzak-Shady area by 20 billion cubic meters.

All extracted natural gas will be exported through Gazprom pipelines. Preliminary export volume will make up 3 billion cubic meters a year. Currently, Lukoil invested US$800 million to the project with the cost of US$3.1 billion.

It is planned that Russian company will invest US$5.5 billion into Uzbekistan by 2015 and increase gas extraction to 16 billion cubic meters a year.

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