Lukoil secures $500-million loan for Uzbekistan development

PJSC Lukoil said it received a $500-million loan to finance development of the Gissar Group’s gas-condensate fields in southeastern Uzbekistan.
Nov. 16, 2016

PJSC Lukoil said it received a $500-million loan to finance development of the Gissar Group’s gas-condensate fields in southeastern Uzbekistan (OGJ Online, Mar. 28, 2012).

The 5-year unsecured loan is for Soyuzneftegaz Vostok Ltd., a wholly owned indirect subsidiary of Lukoil, and is provided by a consortium of banks based in Luxembourg, France, Japan, Italy, Germany, the Netherlands, Russia, and Austria.

Lukoil said the production-sharing agreement for the Gissar project was signed in 2007 and the first gas fields were commissioned in 2011. At yearend 2015, proved reserves were 241 million boe, Lukoil said.

About the Author

OGJ editors

Sign up for Oil & Gas Journal Newsletters