CNPC to carry out construction works at gas-condensate field in Uzbekistan
06/03/2014 15:26
CNPC to carry out construction works at gas-condensate field in Uzbekistan
06/03/2014 15:26
Tashkent, Uzbekistan (UzDaily.com) -- China National Petroleum Corporation (CNPC) will start construction works at the gas condensate field in Uzbekistan in the third quarter of 2014, RIA Novosti reported quoting source close to the project.
The source said that the feasibility study of the project will be ready in August and construction works will be started at the contract field. The works will be completed in the end of 2015.
In October 2013, subsidiary of CNPC on exploration of hydrocarbons and Uzbekneftegaz created joint venture New Silk Road Oil And Gas Company Ltd on exploration and development of gas condensate field in Uzbekistan. According to preliminary data, the capacity of the venture will be 1.5 billion cubic meters a year and investments for US$150 million.
In June 2006, the subsidiary of CMPS signed an agreement with Uzbekneftegaz on conducting exploration five investment blocks in Ustyurt, Bukhara-Khiva and Ferghana oil and gas fields within five years with the cost of US$260 million. In the result, three fields – Hodjasayan, Hodjadavlat and Vostochniy Alat – were opened.
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