Epsilon Development extracts first cubic meters of gas in Uzbekistan
Baku, Azerbaijan, March 14
By Fakhri Vakilov - Trend:
American company Epsilon Development LLC has extracted first cubic meters of gas in Uzbekistan, Trend reports via Uzbek media.
The project is carried out in the Kashkadarya region of Uzbekistan at the Talimarjan field. It is expected that the volume of extraction of raw materials will be 250,000 cubic meters per day.
Work on the development of the well at Talimarjan, which belongs to the Kultak-Kamashinsk investment block, was launched by Epsilon in February of this year.
The company brought the necessary equipment, attracted specialists. The debit or the volume of raw material that is steadily supplied from the source allows gas to be produced here on an industrial scale. First of all, the gas will enter domestic market of Uzbekistan.
Epsilon said it plans to invest $5.2 billion in gas production projects at Uzbek fields included in several investment blocks.
Earlier it was reported that Epsilon in Uzbekistan will produce hard-to-reach gas from fields that require high costs and are associated with financial risks. Objects in Surkhandarya and Fergana regions were mentioned as an example.
The Americans intend to invest about $2 billion in the next two years only in the development of these two fields.
Uzbekistan's oil and gas sector is the most attractive destination for investors. State Investment Committee of Uzbekistan underlines that, in recent years, the country has attracted $11.8 billion in investments and 73 percent of them went into this industry. The program for 2019 includes 26 projects worth $27.8 billion.
The largest companies that work in Uzbekistan are: Lukoil, Gazprom, Novatek, CNPC and Total.
Epsilon Development LLC cooperates with Uzbekistan since 2002. The company has extensive experience in financing and developing projects in the oil and gas industry.
Follow author on Twitter:@vakilovfaxri