Uzbekistan: Lukoil gets loan for Khauzak-Shady

By OGJ editors

Lukoil Overseas has agreed with a bank consortium to take a limited recourse loan of as much as $500 million for continued development of the Kandym-Khauzak-Shady-Kungrad project in Uzbekistan.

The funds are to be used to finance development of the Kandym group of fields and for a production increase in the Khauzak-Shady area. Lukoil Overseas said this is the first large-scale loan to a private company operating in the Uzbek fuel and energy industry.

Lukoil Overseas signed the Kandym-Khauzak-Shady-Kungrad PSA in June 2004, and it took effect in November 2004. The Khauzak-Shady group of gas fields went on production in 2007. Start-up of Kuvachi-Alat field in the Kandym group is set for 2014.

Lukoil Overseas, Uzbekistan’s largest foreign investor, estimates that 11.6 tcf of gas is recoverable. Expected production rate is 388 bcf/year.

Related Articles

CNOOC makes gas discovery in Qiongdongnan basin

03/19/2014

CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Petrobras confirms deepwater oil find with Pitu well

03/13/2014

Petroleo Brasileiro SA (Petrobras) has announced that its 1-BRSA-1205-RNS (1-RNS-158) wildcat well has completed drilling.

Central Illinois shows Siluro-Devonian oil potential

03/03/2014

The Siluro-Devonian is one of the hottest oil and gas plays in the Illinois basin.

Senators ask Kerry to study Keystone XL health impacts

03/03/2014 US Senate Energy and Public Works Committee Chair Barbara Boxer (D-Calif.) and committee member Sheldon Whitehouse (D-RI) jointly asked US Sec. of ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected