Uzbekistan, Tashkent, Dec. 4 / Trend D. Azizov /
Uzbekistan will direct $430 million to upgrade an enterprise technology park belonging to the National Holding Company Uzbekneftegaz in 2012 - 2014, a source in government circles told Trend, with reference to the relevant resolution of the Cabinet of Ministers.
According to the interlocutor of the agency, a programme for decommissioning the company's obsolete equipment and replacing it by modern samples for the next three years has been approved by the government.
In total, it is planned to buy 723 units of new equipment worth $339.3 million, as well as to modernise 1875 units of equipment worth $89.9 million within the programme. The work will be financed by Uzbekneftegaz and loans from Uzbek banks.
Uzbekneftegaz was created in 1998. The holding's capacity ensures natural gas extraction to the amount of 70 billion cubic meters and liquid hydrocarbons to the sum of eight million tons annually.
The holding consists of six subsidiaries - Uzgeoburneftegaz (controls the exploration and drilling), Uzneftegazdobycha (development and production of hydrocarbons), Uznefteprodukt (unites the enterprises providing them with oil products), Uztransgaz (supervises gas transportation and delivery), Uzneftegazstroyinvest (performs design work and capital construction in the oil and gas sector) and Uzneftegazmash (unites the enterprises of the oil and gas engineering industry).