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NEWS

Uzbekistan, Gazprom may sign second PSA by late 2013

www.azernews.az
14 May 2013

The Uzbek Government and Russian giant Gazprom plan to sign a production sharing agreement (PSA) on the development of the Jel field in Ustyurt (north-west of the country) by the end of 2013, Uzbekneftegaz National Holding Company (NHC) official Shokir Fayzullayev told reporters on Monday.

"We will make a decision by the end of the year and get to work on the project," Fayzullayev said.

He noted that the PSA for the Jel field is part of large plans for the development of cooperation between Uzbekneftegaz and Gazprom.

According to the statistics of the holding, Gazprom conducted supplementary exploration of the field and determined the availability of 14 productive horizons, reserves of which are currently approved by the Uzbek State Commission on Reserves of the Government. However, their amounts were not disclosed.

According to preliminary calculations, the field's gas reserves could reach about 10 billion cubic meters.

Earlier it was reported that in 2012, the company carried out explorations at the Jel field and completed 3D seismic exploration over 200 square kilometers. Three more wells were drilled on the field.

The PSA for the Jel field will be the second production sharing agreement implemented by Gazprom in Uzbekistan.

In August 2004, Gazprom started the natural gas production in the Shakhpakhty field in Ustyurt with design capacity of 500 million cubic meters based on a PSA with a 15-year term.

In 2012, the company implemented a project on the reconstruction and further development of the Shakhpakhy field. It commissioned five of 19 wells that were planned to be restored.

The total cumulative gas production at Shakhpakhty currently exceeds 2.2 billion cubic meters. According to the 2012 results, gas production in this field increased by 1.4 times compared to 2011 to 300 million cubic meters.

In February 2012, Gazprom announced the completion of exploration work in Uzbekistan's Ustyurt region worth $400 million and its intentions to expand the raw material base of its projects in the country.