Epsilon Plans to Invest $2 Bn in Gas Exploration in Uzbekistan

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The US investment company Epsilon Development Company plans to invest more than $ 2 billion in the development of five large investment blocks with gas fields in Uzbekistan, Podrobno.uz reported.

Epsilon specializes in the development of hard-to-recover gas reserves, and leads projects ranging from exploration to operation.

Cooperation with Uzbekistan is carried out on the basis of a special government decree.

“The development of heavy fields is a high-cost production requiring consideration of both technical and financial risks, and, of course, the investor is trying to furnish its activities with favorable conditions. Uzbekistan has managed to protect its interests and build relations according to the principle of public-private partnership (50/50) in such a way that the amount of the investor’s expenses does not affect the share received by the state from the sale of marketable products,” the newspaper writes. Two investment blocks of five — Surkhandarya and Fergana — are particularly complicated. In the first of these, gas deposits are located at a depth of almost 7,000 meters, with a high risk of accidents.


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