LUKOIL attracts $500M to fund Gissar project in Uzbekistan
Tashkent, Uzbekistan, Nov. 18
By Demir Azizov – Trend:
Russia’s oil company LUKOIL attracted a straight loan of $500 million from a consortium of banks in order to finance the project on development of the Gissar gas and condensate fields in Uzbekistan, LUKOIL said in a message.
The consortium includes Intesa Sanpaolo Bank Luxembourg S.A. (Luxembourg), Natixis (France), Mizuho Bank Ltd. (Japan), UniCredit S.p.A. (Italy), VTB Bank Deutschland AG (Germany), ING Bank N.V. (the Netherlands), AO Raiffeisenbank (Russia) and Raiffeisen Bank International AG (Austria).
LUKOIL joined the Southwest Gissar project in March 2008. There are seven fields in the contract area in the Kashkadarya Region of Uzbekistan. The PSA for the project was signed in January 2007 for a term of 36 years and came into effect in April 2007.
LUKOIL Uzbekistan Operating Company, a subsidiary of LUKOIL, is the sole operator of the contract area.