Uzbekneftegaz to invest US$190m to projects on utilization of associated petroleum gas

The source said that the company will complete all procedures on contracts on equipment supply and financing of the project will be opened and construction works will kick off in early 2014.

Two projects envisage installation of technologic equipment for utilization of the associated petroleum gas with total capacity of 1.14 billion cubic meters of gas a year at seven gas condensate fields. The projects will be implemented in two years. The project will be financed due to own resources of Uzbekneftegaz.

According to Uzbekneftegaz, currently at gas production volume of 60 billion cubic meters of gas a year, the gas flares burn over 1.5 billion cubic meters of gas. Uzbekistan cut burning of the Uzbekneftegaz by 3.5 billion cubic meters in last four years due to construction of booster compressor stations and systems on collection of associated petroleum gas.

Uzbekneftegaz is planning to increase level of utilization of associated petroleum gas from current 40% to 95% by the end of 2015 due to construction of booster compressor stations and systems on collection of associated petroleum gas. The capacities of Uzbekneftegaz can produce 70 billion cubic meters of gas and 8million tonnes of liquid hydrocarbons a year.