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Uzbekistan extends agreement with Gazprom on Shakhpakhty field

Uzbekistan Materials 31 August 2018 20:50 (UTC +04:00)
President of Uzbekistan Shavkat Mirziyoyev signed a decree extending the license for gas production at the Shakhpakhty field together with Russia's Gazprom company for five more years, the Uzbek media outlets reported citing Uzbekneftegaz JSC Aug. 31.
Uzbekistan extends agreement with Gazprom on Shakhpakhty field

Baku, Azerbaijan, Aug. 31

Trend:

President of Uzbekistan Shavkat Mirziyoyev signed a decree extending the license for gas production at the Shakhpakhty field together with Russia's Gazprom company for five more years, the Uzbek media outlets reported citing Uzbekneftegaz JSC Aug. 31.

The term of the operating license for gas production will expire in March 2019.

The Shakhpakhty field was discovered in 1962. As a result of exploration, seven gas-bearing horizons with initial reserves of 46.5 billion cubic meters of natural gas were revealed.

On December 17, 2002, Gazprom and Uzbekneftegaz signed an agreement on strategic cooperation in the gas sector. The agreement envisages joint implementation of projects in the field of natural gas production on the basis of production sharing agreements (PSAs).

The production sharing agreement on the development of the Shahpakhty field was signed in Tashkent on April 14, 2004. Since August 2004, more than four billion cubic meters of gas have been extracted at the Shakhpakhty field. In 2017, the volume of production amounted to 311.4 million cubic meters.

Since early 2018, the volume of production amounted to 176.4 million cubic meters of gas.

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