Uzbekneftegas has invested $334 mln into gas condensate development on the border with Turkmenistan
Edited by Rhod Mackenzie / 2015-02-05 01:37:23
Uzbekneftegas has invested $334 mln into gas extraction at new deposits as promised.
In 2013-2014 Uzbekneftegas invested $334.4 mln into the development of gas condensate deposits located on the border with Turkmenistan.
The development of the deposits will allow it to extract up to 6.8 bln cubic m of gas and 160 thousand tons of gas condensate a year by 2020. This group of deposits was discovered in early 90s but until now it have not been developed. The reserves of the deposits are not released.
Uzbekneftegas financed the project itself for $212.7, $75.5 mln by the Reconstruction and Development Fund of Uzbekistan and $46.2 mln on loans issued by Uzbek banks.
