LUKOIL invests US$549m into Uzbekistan in Jan-Sep

According to the Russian company, the volume of capital expenses for exploration and mining in Uzbekistan rose from US$444 million in January-September 2013 to US$549 million in the same period of 2014. The growth rate made up 23.65%.

In the third quarter of 2014, the Russian company invested US$248 million against US$185 million in the same period of 2013.

LUKOIL said that it cut gas mining in Uzbekistan. The volume of gas mining abroad decreased by 9.8% year-on-year in January-September 2014, the Russian company said. The company did not disclose the volume of mined gas in Uzbekistan.

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 will produce about 17-18 billion cubic meters of gas a year in Uzbekistan by 2020.