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Uzbekneftegaz to invest $190m in associated petroleum gas project

18 December 2013 14:46 (UTC+04:00)
Uzbekneftegaz to invest $190m in associated petroleum gas project

By Nazrin Gadimova

Uzbekneftegaz National Holding Company will invest $190 million by late 2015 to implement a project for the utilization of associated petroleum gas at Kashkadarya province's fields (South Uzbekistan), in line with a 2014 investment program approved by President Islam Karimov.

The project will be implemented at North Shurtan, Garmiston, Kumchi and Shakarbulak fields with a total production capacity of 1.1 billion cubic meters of gas per year.

Moreover, compressor stations and associated petroleum gas collection systems, which will reduce the amount of flared gas by 505 million cubic meters annually, are planned to be built at these fields.

The project will be financed using Uzbekneftegaz own funds.

Currently, over 1.5 billion cubic meters of associated gas is flared in Uzbekistan per year, while gas production in this country amounts to 60 billion cubic meters, while it was possible to decrease the volume of the flared gas by 3.5 billion cubic meters in the past four years, Uzbekneftegaz says.

The company plans to bring the level of associated gas utilization to 95 per cent by late 2015 compared to 40 per cent currently.

Uzbekneftegaz, a state-owned holding company of Uzbekistan's oil and gas industry, which was established in 1998 and provides over 90 percent of the hydrocarbon production in the country, is a monopoly operator of the Uzbek oil and gas sector. Its capacity allows extracting natural gas in the amount of about 70 billion cubic meters and 8 million tons of liquid hydrocarbons annually.

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