BAKU, Azerbaijan, Mar. 18
By Ilkin Seyfaddini – Trend:
Epsilon Development Company estimates total natural gas reserves in contract territories of Uzbekistan at 561 billion cubic meters, and it is planned to invest about $4.8 - $5.2 billion to confirm and develop forecast reserves, a representative of Epsilon Development Company’s press service told Trend.
Epsilon Development Company operates in such areas as prospecting, exploration, production and transportation of natural and associated gas and oil; construction of industrial facilities; construction of transport communications.
"Epsilon started operating in Uzbekistan in January 2019. According to the decision of the Cabinet of Ministers, the company was given five investment blocks for development: Kultak-Kamashinsky, Surkhan, Mubarek, West Fergana and Ustyurt (Koskudyk and Ashibulak). These blocks are characterized by the presence of hard-to-recover hydrocarbon reserves," the company's press service representative said.
According to the representative, the company attracts innovative technologies, leading foreign contractors and subcontractors in order to achieve maximum efficiency of projects implementation. Today Epsilon is cooperating with BGP Inc. (CNPC) (China), Energy Drilling International (UK), Tacrom (Romania) and others.
The representative also noted that the company actively carries out 3D seismic exploration work. In 2019, the area of 230 square kilometers of Surkhan investment block was fully covered.
"In 2020, the company started preparation work for 3D seismic exploration in unexplored areas of Kultak-Kamashinsky and Mubarek investment blocks. In total, in 2020 it is planned to carry out 3D seismic survey on the area of 2,000 square kilometers. In 2021-2022 similar work will be continued on Koskuduk, Ashibulak and West Fergana investment blocks", said a representative of the press service of Epsilon Development Company.
Epsilon Development Company is a subsidiary of Epsilon Development Company LLC (USA). The main activities of Epsilon Development Company are prospecting, exploration, production and transportation of hydrocarbons and flare gas and oil; construction of industrial facilities; and construction of transport communications.
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