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Economy 24/07/2009 Uzbekneftegaz to construct additional field facilities at Southern Kemachi
Uzbekneftegaz headquarters
Tashkent, Uzbekistan (UzDaily.com) -- In 2009-2011 Uzbekneftegaz will construct additional field facilities at the Southern Kemachi oil & gas condensate field in Kashkadarya region worth US$278 million.

According to Uzbekneftegaz, the project implementation issues are considered jointly with IPIC, which will have to raise investments and loans to purchase necessary equipment. Under the project, it is planned to construct a gas injection compressor, which is intended to prepare 3 billion cubic meters of natural gas with the purpose of its injection in the reservoir in the full-cycle mode of operation.

The project implementation will allow ceasing the production decline at the field and stabilize it in the amount of 243,800 tonnes of crude and 77,000 tonnes of gas condensate a year in the mid-term prospect.

The project will be financed from the funds of foreign investments in the amount of US$100 million, to be raised by IPIC, a US$50 million loan, to be provided by Uzbekistan Reconstruction and Development Fund, and from own funds of Uzbekneftegaz in the amount of US$128.2 million.

Currently, Uzbekneftegaz is actively implementing the program aimed at increasing the hydrocarbons production at certain fields. In particular, in 2007-2008 the holding company constructed additional field facilities at a number of fields, such as Kokdumalak, Zevardy, and Pumuk in Kashkadarya region, and Gazli in Bukhara region. As a result, gas booster stations, worth totally more than US$400 million.

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