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Uzbekneftegaz Uzbek National Holding Company (NHC) will complete the project on utilization of associated petroleum gas of the Northern Shurtan field (Kashkadarya region) worth $53.94 million in December 2015, a source close to the project told Trend.

The volume of utilization of associated petroleum gas on the rigs will amount to 466.7 million cubic meters annually, according to the source.

The project is financed by a loan from the Fund for Reconstruction and Development of Uzbekistan worth $15 million and own funds of Uzbekneftegaz NHC.

It was previously reported that the holding also plans to complete a project worth $231.2 million for the utilization of low-pressure gas on the fields South Kemachi, Kruk, Western Kruk, Northern Urtabulak and Umid by late 2015.

The project is implemented by Kokdumalakgaz LLC and its implementation will make it possible to annually utilize 949 million cubic meters of gas.

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, according to Uzbekneftegaz Holding. It was possible to decrease the volume of the flared APG by 3.5 billion cubic meters in the past four years.

Uzbekneftegaz plans to bring the level of associated gas utilization to 95 percent by 2016.

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