Uzbekneftegaz increases cost of project on construction of oil shale plant

The cost of the project is estimated at the size of US$1 billion and it is planned to finance both due to internal and external financial sources, Saidov said.

RIA Novosti reported quoting Saidov that the construction of plant can be started in the end of 2014. Earlier, the cost of the project was rated at US$600 million.

At the first stage (2014-2015) it is planned to construct a plant on processing 2 million tonnes of oil shale a year. In future (2015-2018), the plant’s capacity will be increased to 8 million tonnes of oil shale and production of 1 million tonnes of oil products a year. Currently, Uzbekneftegaz is holding to determine licensor of oil shale processing technology and the results will be summed up in the first half of 2014.

In October 2012, Institute of Atomenergoproyekt completed development of pre-project on construction of oil processing plant at Sangruntau field. The project of shale oil processing plant envisages that eight firm heat medium facilities (UTT-3000) with the capacity of 8 million tonnes of oil shale a year.

The perspective reserves of oil shale in Uzbekistan have been estimated at the volume of 47 billion tonnes. The reserves of Sangruntau field makes up 357 million tonnes.