RIA Novosti reported quoting source in holding that the development of feasibility study of the project completed and it is planned to protect it by the end of 2012, and start financing the project.

The source said that it is planned to announce tender for purchase of necessary material and technical resources in the beginning of 2013.

The project envisages development of seven fields, of which large ones are Samantepa, Girsan and Taylak. The fields were opened in 1990s, but they were not developed. The reserves of the fields are not revealed.

Within the project, it is planned to drill fields with use of new technologies. The development of the fields will help to produce 3.5 billion cubic meters of gas a year by 2017.

The project with the cost of US$320 million will be financed due to own resources of Uzbekneftegaz national holding company.