PRESIDENT ISLAM KARIMOV DISCUSSES COOPERATION PROSPECTS WITH LUKOIL CHIEF
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President of the Republic of Uzbekistan Islam Karimov received the Lukoil President Vagit Alekperov at the Oqsaroy on November 10.
After greeting the guest, the leader of our country stated the enthusiastic activities of the oil company in the implementation of joint projects in Uzbekistan’s hydrocarbon industry.
Currently, Lukoil has been running investment projects designed to work out and develop promising gas deposits of Khauzak, Shady, Kungrad and the Kandym Group, along with the elaboration of oil and gas segments of the South-West Gissar and Ustyurt Region. Within the frameworks of joint geological prospecting works, promising deposits of hydrocarbons have been discovered in the Uzbek section of the Aral Sea. The aggregate volume of the company’s investments into the realization of projects in Uzbekistan has exceeded 5 billion dollars.
Lukoil has commenced construction of the Kandym Gas Reprocessing Plant with the attraction of the world’s state-of-the-art technologies to allow for the deep processing of 8 billion cubic meters of natural gas per annum.
During the meeting at the Oqsaroy, Vagit Alekperov said that the mentioned project, scheduled to be commissioned in 2018, is undertaken within the framework of the 2015-2019 Program to Intensify Reforms, Structural Transformation and Diversification of the Economy, directed at enhancing Uzbekistan’s industrial base.
The Lukoil chief stressed that the company will irrefutably provide for extensive and timely realization of all its commitments within investment projects underway in the Uzbek hydrocarbon sector.
The meeting served to exchange views on the current situation on global and regional markets of hydrocarbons and discuss key prospective dimensions of the long-term and mutually advantageous cooperation.
