Uzbekistan's National Holding Company Uzbekneftegaz will complete further development of two projects in the Kashkadarya region (south of Uzbekistan ), Alan gas field and Shurtan ( Kashkadarya province) gas condensate in 2014, a source in government circles told Trend Agency.
Total project cost is estimated at $364.34 million, including a project on the further development of Alan field with the construction of a booster compressor station at a cost of $178.34 million, and a project of further development of Shurtan field with the construction of the booster compressor station-2, costing $186 million.
The financing of the projects is implemented at the expense of Uzbekneftegaz`s own funds and the credits of Fund for Reconstruction and Development of Uzbekistan. The FRDU allocated $53.49 million for the Alan gas filed project and $ 53.37 million for the other project.
Implementation of the projects will bring the gas production of Alan to five billion cubic meters and production of Shurtan up to 4.3 billion cubic meters of gas and 136.500 tons of condensate annually.
Both fields were commissioned in the second half of 1970s. Fields` reserves are not disclosed.
At present, Uzbekneftegaz actively implements increasing of hydrocarbons production in a number of fields.
Uzbekneftegaz is the monopoly operator of the oil and gas sector of Uzbekistan. The company was established in 1998 and comprises six joint stock companies.
Uzbekistan holds third place among the CIS countries for the production of natural gas and is among the ten largest gas-producing countries in the world. Every year, the country produces more than 60 billion cubic meters of natural gas, about 25 percent of which is exported.