LUKoil to boost gas output in Uzbekistan

Tashkent, Uzbekistan, Sep 02, 2008 (RosBusinessConsulting via COMTEX) -- LUKOY | Quote | Chart | News | PowerRating -- LUKoil expects to extract over 12bn cubic meters of natural gas from the Kandym and Gissar gas fields in Uzbekistan per year, the Russian energy company's President Vagit Alekperov told journalists in the Uzbek capital Tashkent today. He added that, according to the company's estimates, $5bn worth of investment was necessary to implement the project. Alekperov reiterated that LUKoil had already invested more than $1.5bn in Uzbekistan's economy. This has enabled the Russian company to produce roughly 3bn cubic meters of gas under its first Uzbek project for the development of the Khauzak-Shady gas field, Alekperov noted.

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