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Putin: LUKOIL to invest another US$5bn to Kandym project by 2039
Tashkent, Uzbekistan (UzDaily.com) --
Russian oil giant LUKOIL will invest another US$5 billion to Kandym project in Uzbekistan, the President of Russia Vladimir Putin said on 10 December 2014 in Tashkent.
He said that Russian oil and gas companies are working successfully in Uzbekistan. He said that LUKOIL, for example, develops gas condensate field in Bukhara region. The project will be realized till 2039. He said that the Russian company plans to invest another US$5 billion to the project.
Development of the group of gas condensate fields Kandym-Khauzak-Shady-Kungrad is one of the largest joint energy projects between Uzbekistan and Russia. LUKOIL and Uzbekneftegaz develop the field. In 2004-2014, LUKOIL directed over US$3 billion to the project.
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