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Economy 16/11/2009 LUKOIL to speed up gas field construction in Uzbekistan
LUKOIL to speed up gas field construction in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- LUKOIL Uzbekistan Operating Company LLC, operating company of the Russia’s LUKOIL in Uzbekistan, received permission to develop project documentation for construction of objects for gas condensate fields in southern-western Gissar in Uzbekistan in one-stage.

Uzbek Prime Minister Shavkat Mirziyayev signed on 6 November 2009 signed a resolution of the Cabinet of Ministers of Uzbekistan “On measures on speeding up complex construction of gas condensate fields Adamtash, Gumbulak and Djarkuduk - Yangi Qizilcha in southern-western Gissar of the Republic of Uzbekistan within the product-sharing agreement”.

LUKOIL also received green light to carry out projecting of similar projects, developing project documentation and constructing gas condensate fields Adamtash, Gumbulak and Djarkuduk - Yangi Qizilcha at the same time.

The resolution approved a regulation on order on developing, coordinating and approving project documentation on the project and it outlines interaction of the Russian firm with local bodies and Uzbekneftegaz national holding company.

LUKOIL Uzbekistan acquired SNG Holdings Ltd., including Soyuzneftegaz Vostok Limited, participant of the product-sharing agreement (PSA) on development of southern-western Gissar and Ustyurt region in Uzbekistan. The sum of the deal was US$580 million.

Uzbekneftegaz is authorized state body within the agreement. The PSA was inked on 23 January 2007 with the term of 36 years. It entered into force on 23 April 2007.

The contract includes seven deposits - Djarkuduk - Yangi Qizilcha, Gumbulak, Amanata, Pachkamar and Adamtash gas condensate fields, Yuzhniy Kyzylbayrak oil condensate field and Koshkuduk oil field.

State Reserves Commission of Uzbekistan approved geologic reserves of the group at 100 billion cubic meters of gas and about 6 million tonnes of liquid hydrocarbons (oil and gas condensate) on C1 category.

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