Itera intends to develop gas deposits in Uzbekistan

Experts from the ITERA international group of companies, one of the biggest gas companies working in Russia, and the oil company LUKOIL are conducting an expertise of the preliminary feasibility study of a big investment project.

As the mission of the ITERA in Uzbekistan reported, the project provides for a comprehensive development and running of the gas deposits in the Bukhara region in Uzbekistan, jointly with the national holding company Uzbekneftegaz on conditions of the product sharing agreement.

This project will make it possible to bring into industrial use 300 billion cubic metres of natural gas in the deposits with the annual production of 5.5-6.5 billion cubic metres, pointed out the ITERA mission.

The new investment project is one of the biggest and perspective for the economy of Uzbekistan. It will make it possible to create additional jobs and will raise the export potential of the republic.

The ITERA conducts business with Uzbek oil and gas companies in different spheres. Jointly with the Uzbekneftegaz company it carries out projects connected with the transportation of Uzbek natural gas to Ukraine and other CIS countries and the transportation of Turkmen gas in the territory of the republic. With the participation of the ITERA credit, Uzbekistan has successfully completed the first investment project this year - the reconstruction and building of the internal gas pipeline Gazli-Kagan. This project will make it possible to increase the annual export of Uzbek gas by 0.6 billion cubic metres.

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