Baku, Azerbaijan, July 6
By Fikret Dolukhanov – Trend:
The Russian oil and gas company LUKOIL is planning to invest additional $3 billion in existing projects in Uzbekistan, a source in the Russian company told Trend on July 6.
The representative of LUKOIL reminded that $7.1 billion have already been invested in projects in Uzbekistan, including $5.5 billion in the Kandym-Khauzak-Shady (KHSh) and $1.6 billion in the Gissar gas deposits projects.
The source added that the company is planning to invest additional $2.4 billion in the KHSh and $600 million in the Gissar projets.
The representative of the company said that stability during the long-term activity of the company in the republic is one of the primary factors of LUKOIL's successful investment activity in Uzbekistan.
“LUKOIL is one of the largest investors in Uzbekistan and therefore the effectiveness of recent measures taken to improve the business climate in Uzbekistan could not but find its reflection on the company's activities. The government pays much attention to the development of investment potential, support of investment projects and measures to create favorable conditions for starting business in the country,” the source said.
The company representative added that customs and tax administration reforms, as well as general simplification of conditions and requirements for businesses have a positive impact on activities of local contracting organizations.
In April 2018, LUKOIL commissioned the Kandym gas processing complex (KGPC) located in the Bukhara region of Uzbekistan.
Earlier, in March 2018, the company opened the first gas station in Uzbekistan and the whole Central Asian region under the LUKOIL brand in Tashkent.
Pavel Zhdanov, Director for Capital Markets Operations, Acquisition and Sale of LUKOIL Assets, said earlier that LUKOIL is satisfied with implementation of projects in Uzbekistan and plans to reach the design the level of gas production.
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