Natural Gas-Stream invests over US$701.41 million in gas production in Uzbekistan
19/06/2019 21:36
Natural Gas-Stream invests over US$701.41 million in gas production in Uzbekistan
19/06/2019 21:36
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan approved a feasibility study of the investment project “Conducting geological exploration in the investment blocks Sechankul, Akjar and Chimbay, as well as the development of the Urga, Akchalak and Chandyr groups”.
The government of Uzbekistan issued a resolution “On the approval of a feasibility study of the investment project“ Conducting geological exploration in the investment blocks of Sechankul, Akjar and Chimbai, as well as the development of the Urga, Akchalak and Chandyra groups ”.
According to the document, the joint venture Natural Gas-Stream invests more than US$701.41 million into implementation of this project.
The project envisages geological exploration at the investment blocks of Sechankul, Akjar and Chimbay, as well as the development of the Urga, Akchalak and Chandyr group fields.
Natural Gas-Stream will allocate US$243.4 million of its own funds to the project and will attract foreign loans worth US$458 million.
The joint venture is expected to produce up to 1.333 billion cubic meters of natural gas (the Urga field - 246 million cubic meters, the Akchalak group of fields - 333.4 million cubic meters of gas and the Chandyr group of fields - 1.26 billion cubic meters).
Gas Project Development Central Asia (Switzerland) and Uzbekneftegaz created a natural gas-stream joint venture on a parity basis. The authorized capital of the joint venture is US$300,000. Natural Gas-Stream was established at the end of 2016 to conduct exploration and development of gas fields in the Ustyurt region.
$ 1 | 12667.00 | +0.022% |
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