Tashkent, Uzbekistan, Dec. 25
By Demir Azizov- Trend:
China National Petroleum Corporation (CNPC) will start developing three gas-condensate fields, discovered during exploration operations, in Uzbekistan in 2015, the representative of the Uzbekneftegaz National Holding Company told Trend Dec. 25.
Around $277.32 million are planned to be invested in the project to develop "Dengizkul", "Khojadavlat" and "East Alat" fields until 2020 and $ 50 million in 2015, the statement says.
One billion cubic meters of gas is expected to be produced in the fields per year after the project completion.
CNPC and Uzbekneftegaz established the "New Silk Road Oil & Gas Company Ltd" joint venture to implement the project in October 2013.
At present, the preliminary feasibility study of the project is in the Uzbek government for approval.
A funding line will be opened and the first tenders will be announced for sub-contract work in 2015.
In June 2006, the China National Oil and Gas Exploration and Development Corporation (CNODC), a subsidiary of CNPC, signed an agreement with Uzbekneftegaz to conduct geological exploration on five investment blocks within the Ustyurt, Bukhara-Khiva and Fergana oil and gas regions.
"CNPC Silk Road Group" operator was created to implement the project.
In 2011, the Chinese company fulfilled the 2D-3D exploration program with drilling 13 exploration wells. The total investment volume amounted to $260.2 million. As a result, three fields, promising for industrial gas production, were discovered in the Karakul block.
CNODC and Uzbekneftegaz signed an additional agreement in 2012 to extend the exploration work with an investment volume of $14.9 million for three years.