Uzbekistan, Tashkent, Dec. 30 / Trend D. Azizov /
Lukoil Overseas is the operator of international mining projects being carried out by the Russian LUKOIL national company. It extracted its first gas as part of a production sharing agreement (PSA) to develop gas reserves in south-western Hissar (Kashkadarya, south of Uzbekistan),LUKOIL Overseas said today.
'The company extracted gas in the largest gas field of the block - Jarkuduk yangi Kyzylcha' , the report says.
The planned production in Jarkuduk will initially reach 1.1 billion cubic metres of natural gas per year. It is also planned to exploit large deposits at the Adamtash and Gumbulak fields.
There are also plans to drill 40 extractive wells, construct a line of external power supply and engineering infrastructure facilities. The volume of investments will amount to more than $ 1.2 billion and the planned level of gas production, 5.8 billion cubic metres a year.
Earlier, oil was extracted at the South Kyzylbayrak and Koshkuduk fields (according to the preliminary data, the production will hit 90,000 tons in 2011).
The PSA for this project was signed in January 2007 for a period of 36 years. It came into force in April 2007. Lukoil Uzbekistan, the operating company conducts the operations on the contract area.
Lukoil Overseas has completed a purchase of SNG Holdings Ltd groups, including SoyuzNefteGaz Vostok Limited, which is a member of the PSA for the development of fields of the south-western Hissar and Ustyurt regions begun in 2008.
The contract area of south-western Hissar includes seven oil and gas fields. Geological reserves of the group are about 100 billion cubic metres of gas and about six million tons of liquid hydrocarbons (oil and gas condensate). The proven reserves at the block amount to 1.417 trillion cubic feet of gas and about 23 million barrels of oil and condensate as of early 2011.
Lukoil started gas production in Uzbekistan within the PSA Kandym-Khauzak-Shady-Kungrad in autumn 2007.