Lukoil acquiring eight fields in Uzbekistan

By OGJ editors
HOUSTON, Feb. 8 -- Lukoil Overseas, a subsidiary of Russian OAO Lukoil, plans to acquire a controlling interest in eight natural gas fields in Uzbekistan from SoyuzNefteGaz Vostok Ltd.

Lukoil expects the fields to produce 3 billion cu m/year n 4 years. Gas will be exported via OAO Gazprom's pipeline network.

Development of the project will require $700 million investment total, Lukoil said. SNG Gissar Ltd. operates the contract area under a 36-year production sharing agreement signed during 2007.

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