Tashkent, Uzbekistan, May 18
By Demir Azizov - Trend:
The volume of investments in the project on exploration and development of gas fields at the investment block “Independence of Uzbekistan” in the country’s Surxondaryo region is estimated at $5.8 billion, Director of Neftegazinvest LLC Bakhodyr Sidikov said.
He made the remarks during the 21st Global Oil & Gas Uzbekistan / OGU 2017 international exhibition and conference, which opened May 17 in Tashkent.
He said that Gas Project Development Central Asia AG (GPD, a joint venture of Centrex Europe Energy & Gas AG and Gazprom Germania GmbH, Berlin) also participates in this project.
Neftegazinvest LLC is the structural subdivision of Uzbekistan’s Uzbekneftegaz National Holding Company.
In April this year, the government of Uzbekistan signed a PSA with a consortium of GPD, Altmax Holding Ltd. and the Ozneftgazqazibchiqarish JSC (part of Uzbekneftegaz) regarding the investment block “Independence of Uzbekistan” with additional exploration and development of the gas field “25 Years of Independence.”
The project designed for 30 years initially envisages the creation of capacities for extraction and processing of up to two billion cubic meters of gas per year. At the second stage, the capacities’ volume can be increased to four billion cubic meters. It is planned to build a gas chemical complex on the basis of the field “25 Years of Independence.”
Sidikov added that the project will be financed with the participation of major international financial institutions and export credit agencies.