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LUKOIL invests US$133m into exploration and mining in Uzbekistan in 1Q

8 July 2014

Russian oil company LUKOIL invested US$133 million into exploration and mining in Uzbekistan in the first quarter of 2014, the company's financial report said.

According to Russian firm, the volume of capital expenses to exploration and mining in Uzbekistan grew from $96 million in January-March 2013 to US$133 million in the same period of 2014. The growth rate made up 38.54% year-on-year.

Currently, LUKOIL implement three product-sharing agreements in Uzbekistan - Kandym-Khauzak-Shady-Kungrad, Southern-Western Gissar and exploration of the Uzbek part of Aral. So far, LUKOIL produced over 20 billion cubic meters of gas in Uzbekistan.

The company will produce about 17-18 billion cubic meters of gas a year in Uzbekistan by 2020.