LUKOIL directs US$759m into exploration and mining in Uzbekistan

According to the Russian company, the volume capital expenses for exploration and mining in Uzbekistan grew from US$549 million in January-September 2014 to US$759 million in the same period of 2015. The growth rate made up 38.25%.

In the third quarter of 2015, the investments of the Russian company into Uzbekistan made up US$263 million against US$248 million in the same period of 2014.

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 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.