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LUKOIL invests US$657m into exploration and mining in Uzbekistan in 2013

27 February 2014

Russian oil company LUKOIL invested US$657 million into exploration and mining in Uzbekistan in 2013, the company’s financial report said.

According to Russian firm, the volume of capital expenses to exploration and mining in Uzbekistan grew from $477 million in 2012 to US$657 million. The growth rate made up 37.73% 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.