In 2012-2020 Uzbekneftegaz to invest $235 million to enlargement in oil production at Uzbek deposits developed for long

In 2012-2020 Uzbekneftegaz is going to invest $235 million into the enlargement of oil production at the Uzbek deposits developed for long a time, the fuel and energy sector department of the Cabinet of Ministers of Uzbekistan reports. By 2021 the holding will realize the program for deep drilling of 100 objects with foreign companies participation that present their experience in high-tech use for the increase in oil recovery of layers with difficult extractable reserves. In particular, they are going to introduce drilling for depression, oil recovery intensification by seismic wave influence, and radial drilling. By 2012 Uzbekneftegaz will annually extract up to 300,000 tons of oil additionally, at the expense of geological and technical measures aimed to oil production compensation. The main partners that could be attracted to these technologies use are CNPC, KNOC, Delta Oil Company, Eriell Corporation, and Tethys Petroleum Ltd.
Uzbekneftegaz reports that if the annual volume of oil production continues, Uzbekistan will be provided with oil for 21 years and with gas condensate for 25 years. 60% of the oil are active, easily extractable reserves, and the rest needs additional drilling of large amount of deep wells including with horizontal and branch holes, and needs high technologies. Uzbekneftegaz capacities can provide annual production of 70 billion cubic m of gas and 8 million tons of liquid hydrocarbons.
Source: http://www.oilru.com/news/297951/
Translated by Nadezhda Poltoratskaya