The resolution envisages that the project participants – Lukoil Overseas and Uzbekneftegaz national holding company will construct and launch Kuvachi and Alat field of Kandym Group and northern part of Shady area of Dengizkul field till 30 August 2014.

During the period, the sides should develop feasibility study on construction of gas processing plant and construction of Kandym Group of fields and submit to the Cabinet of Ministers of Uzbekistan. It is planned that the first line of Kandym gas process plant will be launched till 1 October 2016.

For speeding up construction of plant, it was allowed to develop feasibility study in parallel with preparation with the documentation, purchase of equipment, construction of production and infrastructure objects, which will be conducted on tender basis. The Ministry of Economy of Uzbekistan was entrusted to include corresponding changes and amendments to the product sharing agreement on Kandym-Khauzak-Shady-Kungrad project.

As reported earlier, South Korea’s Hyundai Engineering will develop feasibility study and documentation of Kandym investment project. The cost of the project is US$238 million. Administration of Bukhara region allocated land for construction of Kandym gas processing complex.