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He said that investments are flowing to perspective projects in Kandym and Gissar deposits. He added that these large projects will help to produce additional 12 billion cubic meters of natural gas. Alekperov said about investment of US$5 billion is required to complete these projects.
LUKOIL and Uzbekneftegaz signed an agreement on utilization of the Bukhra-Khiva and Gissar oil and gas regions on a product-sharing agreement. The estimated reserves of the deposits are 250 billion cubic meters of gas and 10 million tonnes of liquid hydrocarbons. The largest deposit Kandym in Bukhara region has about 150-180 billion cubic meters of gas. Earlier, it was expected that 9 billion cubic meters of gas per year will be mined at these deposits.
Alekperov said that the Russian firm has already invested over US$1.5 billion in Uzbekistan and the company produced about 3 billion cubic meters of gas at the Hauzak-Shady deposit. He added that the Uzbek side is considering building a gas-chemical complex to process the gas produced from these deposits.
(UzReport)
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