Azernews.Az

By Aynur Jafarova

Russian Lukoil Company invested $549 million in the implementation of gas projects in Uzbekistan in January-September 2014.

This figure amounted to $444 million in the same period last year, the company said.

The company invested $248 million in Uzbekistan in the third quarter of 2014, and this figure stood at $185 million in the same period of 2013.

Lukoil also said "gas production abroad decreased by 9.8 percent compared to the first nine months of 2013 mainly due to a decrease in production in Uzbekistan."

However, the volume of gas production in Uzbekistan in January - September has not been revealed.

Lukoil is one of the largest foreign investors in Uzbekistan. Since 2004, the company has invested over $3 billion in the Uzbek economy.

Currently, Lukoil is working in Uzbekistan on the implementation of three projects - Kandym-Hauzak-Shady-Kungrad, the mining of the Southwestern Hissar, and the conduction of exploration of the Uzbek part of the Aral Sea in the international consortium.

Lukoil plans to produce 18 billion cubic meters of gas annually by 2017 and to increase the amount of investments up to $5 billion within the frameworks of the first two projects.

Lukoil plans to put into operation the major facilities in 2017. The designed gas production level is 4.8 billion cubic meters per year.