Uzbekistan, Tashkent, Feb. 8 / Trend D.Azizov
China National Petroleum Corporation (CNPC) plans to begin development of Eastern Alat gas-condensate field in the Bukhara-Khiva region, west Uzbekistan, a source in the government told Trend.
CNPC opened the Eastern Alat gas-condensate field in the Karakul investment block in 2011.
In the first half of the year, the company must submit a report to Uzbek government about natural gas reserves and Eastern Alat for its further protection in the State Reserves Committee.
According to preliminary estimates, amount of investment to the development during the first three years can amount $150 million. Expected volumes of production are closed.
The agreement between the China National Corporation for exploration and development of oil and gas (CNODC, is a part of CNPC) and the National Holding Company (NHC) Uzbekneftegaz for geological exploration in the five investment blocks within the Ustyurt, Bukhara-Khiva and Fergana oil and gas, was signed in June 2006.
The total cost of exploration work was estimated at $208.5 million. CNPC Silk Road Group llc was created for these aims. CNPC gave guarantees to Uzbekistan on implementation of CNODC obligations within this project.
Mingbulakneft was established in June 2008 on a parity basis between CNPC and Andizhanneft OJSC (part of Uzneftegazdobycha - a subsidiary of Uzbekneftegaz) for exploration of Mingbulak oil field in Namangan region.
CNPC will invest $211.7 in geological exploration and development and experimental-industrial production of hydrocarbons in 2012-1015.
In April 2008, Uzbekneftegaz and CNPC created the Asia Trans Gas JV for the design, construction and operation of the Uzbek section of gas pipeline Turkmenistan-China with 30 billion cubic meters and a length of 530 km. The first stage of the pipeline was commissioned in 2009, and the second in 2010.
CNPC started the construction of the third Uzbek section of gas pipeline at length of 529 km and with a capacity of 25 billion cubic meters in December, 2011.