Shavkat Mirziyayev holds meeting with LUKOIL President
24/09/2016 22:31
Shavkat Mirziyayev and Vagit Alekperov /Archive photo/
24/09/2016 22:31
Tashkent, Uzbekistan (UzDaily.com) -- Interim President and Prime Minister of Uzbekistan Shavkat Mirziyayev held a meeting with the President of LUKOIL Vagit Alekperov.
The meeting was held in Bukhara region, where the Russian company is building Kungrad Gas Processing Plant.
During the meeting, the sides discussed perspectives of cooperation in oil and gas sector. Shavkat Mirziyayev noted his satisfaction with construction tempo of Kungrad Gas Processing Plant.
Alekperov underlined that LUKOIL will ensure full-scale and timely implementation of its liabilities within the investment projects, realized in oil and gas sector of Uzbekistan.
Currently, LUKOIL implements three product-sharing agreements in Uzbekistan – Kandym-Khauzak-Shady-Kungrad, Southern-Western Gissar and exploration of the Uzbek part of Aral. So far, LUKOIL produced over 30 billion cubic meters of gas in Uzbekistan.
The company will produce about 17-18 billion cubic meters of gas a year in Uzbekistan by 2020. It is expected that the volume of investments will exceed US$8 billion.
In April 2016, LUKOIL started construction of Kandym Gas Processing Plant, which will process 8.1 billion cubic meters of gas a year. It is expected that the first phase of the project will commission in 2018. The first phase is valued at US$3.3 billion.
Currently, total volume of investments of the Russian company into its Uzbek project exceeds US$5.5 billion.
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