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Economy
08/07/2009
Uzbekneftegaz to construct gas fields in south of Uzbekistan
Uzbekneftegaz to construct gas field in south of Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) --
Uzbekneftegaz national holding company will construct oil and gas condensate fields at Southern Kemachi in Kashkadarya region in 2009-2011. The project will cost US$278 million.
The project will be realized in cooperation with International Petroleum Investment Co (IPIC) of the UAE, which attracts investments and credits for purchase of necessary equipment.
Within the project, gas injection compression stations. It will process 3 billion cubic meters of gas a year. The project will allow to stop decrease of gas production at the field and stabilize production at the level of 243,800 tonnes of oil and 77,000 tonnes of gas condensate a year in short-term perspective.
The project will be financed due to foreign investments for US$100 million, attracted by IPIC, credit of the Fund for Reconstruction and Development of Uzbekistan for US$50 million, and own resources of Uzbekneftegaz for US$128.2 million.
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