Baku, Azerbaijan, March 16
By Fakhri Vakilov - Trend:
Natural Gas Stream, a joint venture in Uzbekistan created by Gas Project Development Central Asia (a subsidiary of Gazprom International) and Uzbekneftegaz, plans to produce 1.5 billion cubic meters of gas for the year 2019, Trend reports via Uzbek media.
"Two investment blocks were transferred to this joint venture - these are the Chandyr and Akchalak groups of fields. Last year they put into operation the fields of Chandyr group with drilling more than 10 wells. In the Ustyurt region they overhauled wells in the Urgi field. Nowadays, the company is drilling and arranging the Akchalak group of fields," a representative of Uzbekneftegaz said at a press conference in Tashkent.
He stated that now the company daily produces over 4 million cubic meters of gas per day. He also added that according to forecasts, the joint venture will produce 1.5 billion cubic meters of gas for the year 2019 at the existing fields.
Moreover, representative of Uzbekneftegaz stressed that Natural Gas Stream has other blocks for geological exploration and, if they are successfully completed, production rates may still increase.
Earlier, the Uzbek side reported that the plans of the joint venture is the creation of capacity for the production of 1,5 billion cubic meters of gas and 76,000 tons of condensate in the next 10 years. The volume of investments is $700 million.
Natural Gas Stream joint venture was created at the end of 2016 for exploration and development of gas fields in the Ustyurt region (north-west of Uzbekistan).
---
Follow author on Twitter:@vakilovfaxri