Epsilon plans to invest over $2B in geological exploration in Uzbekistan

Oil&Gas Materials 2 March 2019 09:27 (UTC +04:00)

Baku, Azerbaijan, March 2

By Fakhri Vakilov - Trend:

Epsilon Development, a US investment company, plans to invest over $2 billion in the development of five large investment blocks with gas fields in Uzbekistan, reports Trend with reference to Forbes.kz.

Epsilon specializes in the development of hard-to-recover gas reserves, and leads projects ranging from exploration to operation. Cooperation with Uzbekistan is carried out on the basis of a special government decree.

Epsilon attracts industry leaders such as Schlumberger, the largest oilfield services company, founded in 1926 and operating in 85 countries.

Two investment blocks Surkhandarya and Fergana are particularly complicated. In the first of these, gas deposits are located at a depth of almost 7,000 meters, with an increased risk of accidents. In the next two years, these deposits will require about $2 billion of investment.

Epsilon Development LLC has been cooperating with Uzbek government since 2002 and has extensive experience in financing and developing projects in the oil and gas industry.


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