Wednesday, February 20, 2008
Lukoil bags Uzbek bounty
08 February 2008 - Upstream OnLine - Russian producer Lukoil is set to take control of eight gas fields in Uzbekistan - holding total reserves of about 100 billion cubic metres - from SoyuzNefteGaz. "The planned production is about 3 billion cubic metres of gas per annum. This level is expected to be attained in four years. Gas is to be exported via Gazprom trunk pipelines," Lukoil said in a statement. Implementation of the project, which was agreed on for a 36-year period as of 23 April 2007, will require roughly $700 million in investment, the statement said.