LUKOIL plans to invest US$1.05bn into Uzbekistan in 2014

According to the investment programme for 2014, the Russian company will direct the investments to implementation of two product-sharing agreements (PSAs) with total cost of US$8 billion.

In 2013, LUKOIL planned to invest US$678.5 million to realization of its two projects in Uzbekistan within the PSAs.

As reported earlier, LUKOIL invested US$444 million into exploration and mining in Uzbekistan in nine months of 2013.

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 20 billion cubic meters of gas in Uzbekistan.

LUKOIL is planning to produce up to 4 billion cubic meters of gas in Uzbekistan in 2013. The company will produce about 17-18 billion cubic meters of gas a year in Uzbekistan by 2020.