"We are sure that these major projects, which, according to our estimate, will require another some US$5 billion of investments, will make it possible to extract more than 12 billion cubic meters of gas a year," he said.

"We are also considering an opportunity with our Uzbek colleagues to construct an integrated plant for deep processing of our gas product," Alekperov added.

"The company has already invested over US$1.5 billion in the economy of Uzbekistan; we have already been producing about 3 billion cubic meters of gas a year at our first facility at Hauzak Shodi," he said.