Tashkent, Uzbekistan (UzDaily.com) -- Representatives of Uzbekneftegaz signed with VEB.RF Group of Companies, EXIAR JSC, Gazprombank and Bank GPB International S.A. cooperation agreements in the framework of financing a program to increase hydrocarbon production. This was reported by the press service of Uzbekneftegaz.

These documents envisage the definition of key terms of a syndicated credit line with the participation of VEB.RF Group of Companies, EXIAR JSC, Gazprombank (JSC) and Bank GPB International S.A. in the amount of US$257.3 million to finance payment for the supply of Russian products, works and services as part of work to increase oil and gas production in Uzbekistan.

The cooperation of Uzbekneftegaz JSC with the above-mentioned financial institutions has a long and successful history and includes such investment projects as the construction of the GTL plant, the expansion of the production capacity of the Shurtan Gas Chemical Complex and many others.

The program to increase the production of hydrocarbons includes the implementation of measures for drilling, workover of wells and the construction of technological facilities aimed at increasing the production of hydrocarbons to support the country's economy.

As part of the program, the construction of 430 wells has already been completed, overhaul of 328 existing wells has been completed, a modular wellhead compressor unit has been commissioned at the Garbiy field, booster compressor stations Samantepe, Uchkyr, Alan, Zevardy, as well as a comprehensive gas treatment unit at the Arslan field. Construction and installation work is underway on the Dengizkul and South Tandyrcha booster compressor stations.