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Economy
19/05/2011
Lukoil to expand gas production in Uzbekistan by 2017
Lukoil to expand gas production in Uzbekistan by 2017
Tashkent, Uzbekistan (UzDaily.com) --
Russian oil company LUKOIL is planning to increase gas production in Uzbekistan by six times by 2017 compared to 2010, President of Lukoil Overseas Andrei Kuzyayev said at international conference Oil and Gas Uzbekistan-2011 in Tashkent.
Andrei Kuzyayev said that the company plans to produce 18 billion cubic meters of gas in Uzbekistan and increase investments four times to US$5 billion. He said that Lukoil will increase gas production by 30% year-on-year.
Russian company currently participates in three projects in Uzbekistan – Kandym-Khauzak-Shady-Kungrad, Southern-Western Gissar and development of the Uzbek part of Aral Sea as part of international consortium.
Currently, Lukoil produces 3 billion cubic meters of gas a year in Uzbekistan and invested over US$1.5 billion to Uzbek oil and gas sector.
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