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Economy 03/02/2009 Uzbekneftegaz worked on 12 investment projects in 2008
Uzbekneftegaz
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekneftegaz realized 12 projects due to direct foreign investments and credits in 2008. Investment utilization made up 133% to forecast, Uzbekneftegaz said.

Enterprises of Uzbekneftegaz were equipped with drilling and 3D seismic complexes, development works started at Kandym deposits’ group, Khauzak and Shady and exploration works were carried our at Ustyurt region with Lukoil Overseas Uzbekistan based on the product-sharing agreement.

The exploration works of the Uzbek part of the Aral Sea was continued. It is expected that consortium of investors will develop the area at newly opened deposits.

Development of difficult deposits in Gissar region was carried out with the Swiss Zeromax and works within the product-sharing agreement with Soyuzneftegaz Vostok Limited (Russia) was also conducted at southern-western Gissar and Ustyurt region.

The project on exploration of Baisun investment block in Surkhandarya region with the Malaysian partners is underway. Exploration works at investment blocks with the Gazprom, CNPC were carried out.

Uzbekneftegaz and Korean consortium, including KOGAS, LG International, Lotte Petrochemical Corporation, SK Gas and STX Energy created a joint venture UzKorGasChemical to organize complex gas-field construction at Surgil in Ustyurt region.

Uzbekneftegaz and CNPC started work on construction of Uzbekistan-China gas pipeline and signed a document on creation of the venture Mingbulakneft on joint exploration and development of Mingbulak deposit in Namangan region.

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