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Investments in Uzbekistan’s oil, gas field to increase in 2016

Uzbekistan Materials 18 May 2016 16:58
The volume of investments for development and modernization of Uzbekistan’s oil and gas field will increase by 8 percent – up to $2.798 billion in 2016, as compared to 2015.
Investments in Uzbekistan’s oil, gas field to increase in 2016

Tashkent, Uzbekistan, May 18

By Demir Azizov- Trend:

The volume of investments for development and modernization of Uzbekistan's oil and gas field will increase by 8 percent - up to $2.798 billion in 2016, as compared to 2015, according to the documents of Uzbekneftegaz National Holding Company (NHC).

The documents were made public May 18 at the opening of the Oil and Gas Uzbekistan 2016 exhibition in Tashkent.

Uzbekistan's Vice Premier Gulomjon Ibragimov said at the opening ceremony that the implementation of 14 projects worth $16.3 billion with the participation of foreign investments will continue in 2016. The projects will be implemented with the participation of Russia's Lukoil, South Korea's KOGAS and GS E&C, China's CNPC, South Africa's Sasol and the US Honeywell companies.

Ibragimov added that Lukoil in April will start the construction of a gas processing plant complex with the capacity of 8.1 billion cubic meters of gas per year. The first part of the plant will be commissioned in 2018. Total amount of investments for this project in the first phase is estimated at $3.3 billion.

Uzbekistan plans to implement 38 projects worth about $20.6 billion in the country's oil and gas field, according to Uzbekneftegaz.

Edited by SI

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