Uzbekistan, Tashkent, Feb.3 / Trend, D.Azizov /
LUKOIL Overseas fulfilled its set annual plan by 1.5 times in the Khauzak-Shady section in 2010, the company said. The company produced over 1 billion cubic meters of gas more than the planned volume. Simultaneously, LUKOIL Overseas ensured the growth of recoverable reserves at a volume of about 2 billion cubic meters of gas.
LUKOIL Overseas made a discovery within the Aral exploration project in Uzbekistan. Drilling at the first exploration well with a depth of 3,300 meters at Western Aral helped to receive a commercial gas inflow with a total deposit of 600,000 cubic meters a day.
Lukoil Uzbekistan Operating Company, a 100-percent subsidiary of Lukoil NC in Uzbekistan, said increased gas reserves in the Khauzak-Shady section in February 2010 amounted to 20 billion cubic meters.
As previously reported, the company plans to produce over 12 billion cubic meters of gas per year in Uzbekistan. The company intends to reach the level in 2011.
In general, over the next seven years, Lukoil plans to invest about $5 billion in the implementation of gas projects in Uzbekistan - in the Kandym and Hissar fields.
Lukoil started gas production in Uzbekistan within the Kandym-Khauzak-Shady PSA in autumn 2007. The total volume of natural gas is exported by Gazprom's main network.
The Kandym-Khauzak-Shady PSA was signed on June 16, 2004.
In November 2007, the Khauzak gas field was commissioned.
The proved geological natural reserves of the contract territory are 329 billion cubic meters.
The contract area of southwestern Hissar includes seven oil and gas fields. The geological reserves of the fields are about 100 billion cubic meters of gas and 6 million tons of liquid hydrocarbon.