LUKOIL increases gas extraction in Uzbekistan by 26% in Jan-Sep

The company said that gas extraction in Uzbekistan rose by 26% year-on-year in January-September 2015 to 78,400 barrels of oil equivalent a day.

In nine months of 2014, the company extracted 62,400 barrels of oil equivalent a day, the company noted.

The growth of gas mining in Uzbekistan is connected with speedy launch of the project “Early gas at Kandym” (Northern Shady area and Quvachi and Alat fields”, as well as improvement of productivity of gas wells within Gissar project, Lukoil said.

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%.

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.