Alekperov: Chinese companies are interested in 30% stake of Kandym field
10/12/2014 16:52
Alekperov: Chinese companies are interested in 30% stake of Kandym field
10/12/2014 16:52
Tashkent, Uzbekistan (UzDaily.com) -- Chinese companies are interested in acquiring 30% stake in Kandym field in Uzbekistan, head of LUKOIL Vagit Alekperov said.
Earlier, vice-president of LUKOIL Leonid Fedun said that the Chinese companies are expressing interest in purchasing stake in Kandym gas field in Uzbekistan.
Alekperov said that the Chinese side are interested in purchasing up to 30% stake in the gas field, RIA Novosti reported.
Alekperov said that LUKOIL is planning to sign a contract on construction of gas processing plant and gas field with Uzbekistan in January 2015. He said that the sides are agreeing the contract and will sign the document in January 2015.
Total cost of gas processing plant with its infrastructure will make up US$2.8 billion, he said.
The capacity of Kandym gas processing plant makes up 8 billion cubic meters. The volume of investments estimated at US$3 billion. Kandym group includes six gas condensate fields. It is also planned to construct over 120 wells, gas compressor stations, points for collecting gas, terminals for loading liquid hydrocarbons and granulated brimstone, camp, electricity line, etc.
LUKOIL and Uzbekistan signed a product sharing agreement on Kandym field in 2004. The contract was signed for 35 years. The company increased gas production at the field to 3 billion cubic meters a year in 2010. By 2017, the Russian company plans to increase gas production at the field to 8-10 billion cubic meters year.
Currently, LUKOIL implement 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 25 billion cubic meters of gas in Uzbekistan.
The company plans to produce 18 billion cubic meters of gas within two PSAs and increase the volume of investments to US$8 billion by 2017.
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