Uzbekistan plans to invest $7.1 billion into oil and gas industry

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uzbekistan_mapIn 2015 Uzbekneftegas and foreign investors will start the projects with a total cost of $7.1 billion, reads the program approved by Uzbek President Islam Karimov.

            The program includes 39 projects for upgrade, technical and technological upgrade of manufacture in the oil and gas industry. The foreign investments and credits will total $5.1 billion, Uzbekistan’s own resources – $1.14 billion, credits of the Uzbekistan Fund for Reconstruction and Development – $543.8 million and credits of the Uzbekistan banks – $313.7 million.

            In particular, this year Russian LUKoil company will start an active phase of construction of the gas processing plant and development of the Kandym group of fields in the Bukhara region with a total amount of $2.66 billion. It is planned to build the gas processing plant with the capacity of 8.1 billion cub.m. of gas a year in 2019.

            Uzbekneftegas and Chinese CNPC will start construction of the fourth branch of the Uzbek section of the Central Asia-China gas pipeline with a total amount of $800 million. The gas pipeline with the capacity of 20 billion cub.m. of gas is planned to be launched in 2017.

This year South Korean IRED Co Ltd will work out the technical solution for expansion of the Shurtan gas chemical complex in Kashkadarya region. The project worth $570 million envisages production of 1.4 butanediol of natural gas and methanol by 2020.

  Capacities of Uzbekneftegas, which controls operations in the oil and gas industry of the country, ensure production of 70 billion cub.m. of natural gas and 8 million tons of liquid hydrocarbons a year.

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