LUKoil and Itera to produce gas in Uzbekistan

LUKoil and Itera have organized a joint task force for elaboration onseveral projects on oil and gas exploration in Uzbekistan, the pressservice of the Uzbekneftegaz company reported. It is expected that theconsortium will create a joint stock company that will be exploringhydrocarbon resources in the Kungrad district and will be producing gas inthe Bukhara-Khivinsky and Gissarsky regions of Uzbekistan. The expectedvolume of investments in these projects is $720m. Gas production from thesefields may amount to 7bn cubic meters per year. The LUKoil and Itera willhave a 45 percent stake each in the new company and Uzbekneftegaz will havea 10 percent block of shares..

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&to=http://www.lukoil.com' target=_blank>LUKoil

&to=http://www.itera.ch' target=_blank>ITERA