Lukoil announces tender to settle oil and gas-condensate field in Uzbekistan
Uzbekistan, Tashkent, October 27 / Trend D. Azizov /
"Lukoil Uzbekistan Operating Company" (subsidiary of "Lukoil" in Uzbekistan) has announced tenders to conduct construction and assembly operations on a turnkey basis to settle oil and gas field Southern Kyzylbayrak (South-West Hissar). The report was published in the local press on October 27.
Applications for participation in the tender must be submitted by November 16, 2009 under competitive conditions. Envelopes with bids are planned to be opened by November 27, 2009.
It was reported that Lukoil Overseas (100 percent subsidiary of Lukoil) has completed its deal to buy the group of SNG Holding Ltd., including Soyuzneftegaz Vostok Limited company in March 2008. It is a member of PSA for the development of deposits of the Southwestern Hissar and Ustyurt region in Uzbekistan.
Sum of the deal hit $580 million. Uzbekneftegaz is the second part in the PSA as a competent body of the state.
PSA was signed on January 23, 2007 for 36 years and came into force on April 23, 2007. Share of Uzbekistan in the profitable production will hit 55-80 percent depending on the profitability of the project.
There are 7 fields - gas-condensate Djarkuduk-Yangi, Gumbulak, Amanat, Pachkamar and Adamtash, oil and gas-condensate South Kyzylbayrak and oil Koshkuduk in the contractual area of the Southwestern Hissar (Kashkadarya region). At present, small amounts of oil and gas-condensate are extracted on the southern Kyzylbayrak and Koshkuduk.
Major economic indices of PSA were approved upon Uzbek President Islam Karimov's decision in March 2009. The amount of capital expenses of investors during the period of the agreement was fixed to the amount of $1,196 billion in accordance with the document.
Lukoil also operates in Uzbekistan within the first PSA for Kandym-Khauzak-Shady ", signed in 2004 for 35 years. Estimated cost is $3.145 billion.