LUKOIL can attract financial resources to Uzbek projects
22/06/2016 11:29
LUKOIL can attract financial resources to Uzbek projects
22/06/2016 11:29
Tashkent, Uzbekistan (UzDaily.com) -- Russian oil company LUKOIL is planning to attract financial resources to its projects in Uzbekistan, Vice-President of the company Aleksandr Matytsyn said.
He noted that LUKOIL is considering an opportunity to attract financial resources to the project on construction of gas processing plant in Uzbekistan. Total sum on contract within the project is about US$2.6 billion.
He said that the Russian company is holding negotiations with the South Korean agencies on attracting credit resources.
He said that the company is working with South Korean export agency. It can be quasi project financing, which will not to distract the company’s resources.
Matytsyn noted that the product sharing agreement within the project was improved, which will allow to increase its profitability and so there should be no problems with attracting financial resources.
LUKOIL has been implementing the Kandym project in partnership with the National Holding Company Uzbekneftegaz since 2004 as part of the Kandym-Khauzak-Shady-Kungrad PSA. The PSA was signed for 35 years. In 2014, the agreement was prolonged by 7 years to 2046.
The Kandym group consists of 6 gas condensate fields – Kandym, Kuvachi-Alat, Akkum, Parsankul, Khoji and West Khoji.
The first phase of the project envisages mining and preparing 2.1 billion cubic meters of gas a year from Kuvachi-Alat field and Northern Shady area at Khauzak-Shady field with supply of gas to Mubarak gas processing plant.
The project envisages construction of Kandym gas processing complex in Bukhara region. The Kandym Gas Processing Complex will include construction of a gas treatment plant capable of processing 8.1 billion cubic meters of gas per year, as well as a natural gas gathering system, which, at its peak, will comprise 114 producing wells, 11 well pads and 4 gathering stations.
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