Uzbekistan, Tashkent, April 16 / Trend, D. Azizov /
The Fund for Reconstruction and Development of Uzbekistan (FRDU) has allocated a loan of $30 million to Uzbekneftegaz National Holding Company (NHC) for the integrated development of gas fields in Gazlinsk region, a representative of the holding told Trend on Tuesday.
According to the holding's representative, loan funds will be used to fund the construction of related infrastructure, in particular, compressor stations on the Kulbeshkak, Hodzhikazgan, Dayahatyn, Syuzma, Kumli and Chegarakum fields.
These fields were discovered in the early 90's, but have not yet been developed. Confirmed reserves have not been disclosed.
According to the report, the systems will produce up to five billion cubic meters of gas per year combined by 2018. Along with the FRDU loan, the project will be funded through Uzbekneftegaz's equity.
Currently, Uzbekistan is implementing a project for the integrated development of gas fields in the Gazlinsk region worth $914.19 million. In October last year, the head of the state instructed to complete the project in 2018 against the previously planned 2020.
In particular, a project to further develop the Shurtan field worth $265.3 million will be completed in 2013, and a project to further develop the Alan field worth $178.34 million should be completed by 2014. A project to develop the East Berdakh field worth $192.9 million is scheduled to be completed four years ahead of schedule, and a similar project in the Samantepa field worth $186 million will be completed two years earlier.
The Gazly gas field has been in operation since 1961 and is one of the largest in the Bukhara-Khiva region. The transportation of gas from the Gazly field is conducted through Bukhara-Ural and Central Asia - Center pipelines that exports gas from Uzbekistan to the Urals and the European part of Russia. The initial gas reserve estimates of the deposit were about 500 billion cubic meters of gas.
The Fund for Reconstruction and Development of Uzbekistan was created in May 2006 to finance and co-finance major investment projects included in the public investment program. The Fund was founded by the government of the republic through the Ministry of Finance. To date, the fund's authorized capital amounts to $10 billion.