Uzbek Ministry of Energy talks on joint project with Gazprom

Uzbek Ministry of Energy talks on joint project with Gazprom

The joint venture Natural Gas-Stream, established by Uzbekneftegaz and the Gas Project Development Central Asia (a subsidiary of Gazprom International), is implementing an investment project in north-west of Uzbekistan, a representative of the Ministry of Energy of Uzbekistan told Trend in an interview.

The project envisages exploration work on the investment blocks Sechankul, Akjar and Chimbay, alongside development of the Urga field and the fields of Akchalak and Chandyr groups.

The official said that the implementation of the Investment project will allow to maintain the level of production at the depleted Urga field, bring into development the fields of Chandyr and Akchalak groups, which have been in conservation for a long time, and increase hydrocarbon reserves through exploration.

"The investment project provides raising loans from foreign banks by joint venture under the guarantee of a joint venture and a foreign investor," the representative said.

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