Uzbekistan, Tashkent, Aug. 18 / Trend D.Azizov /
The Asian Development Bank (ADB) is considering allocating a loan and guarantees for commercial risks totaling $400 million to the Uzbek-Korean joint venture UzKor GasChemical for the construction of the Ustyurt Gas Chemical Complex, the bank reported.
Loan funds can reach $125 million and risk guarantees for commercial funding up to $275 million.
As reported earlier, Uzbekistan plans to draw loans from international financial institutions to implement the project to build the Ustyurt Gas-Chemical Complex on the Surgil Field.
The Ustyurt oil and gas region is one of the largest in Uzbekistan and the least studied. The promising area of land is 105,100 square kilometers. Prospective gas resources are estimated at 1,685 trillion cubic meters and liquid hydrocarbons at 1,720 billion tons. About 30 oil and gas companies, including large ones such as Karazhanbas, North Buzachi, and Kalampas opened up recently.
Uzbekistan takes on second place among CIS countries, after Russia, for natural gas production. Every year, about 60 billion cubic meters of gas are produced in Uzbekistan.
Uzbekneftegaz is a monopoly operator in Uzbekistan's oil and gas industry. It was established in 1998 and comprises six joint stock companies.