BAKU, Azerbaijan, Oct. 7
By Fakhri Vakilov – Trend:
Russian Gazprombank and, State Development Corporation (VEB.RF) are planning on attracting loans under the insurance coverage of Russian Agency for Export Credit and Investment Insurance (EXIAR) in the amount of over $500 million to finance projects aimed at increasing natural gas production in Uzbekistan, Trend reports citing Uzbekneftegaz.
Uzbekneftegaz representatives and the leadership of Gazprombank discussed this topic discussed at a meeting in Tashkent on October 6.
To date, Uzbeknefteqaz attracted about $1.1 billion of Gazprombank loans to finance strategic investment projects.
Thus, under the Program to Increase Hydrocarbon Production for 2017-2021, Gazprombank has so far allocated loans in the amount of about $ 675 million for the implementation of measures for drilling, workover of wells and construction of technological facilities aimed at increasing the production of hydrocarbons.
Since the beginning of the Program implementation, construction of 296 wells and the overhaul of 328 existing wells have been completed. Moreover, a modular wellhead compressor unit at the Garbiy field, booster compressor stations (Samantepe, Uchkyr, Alan and Zevardy fields), as well as a comprehensive gas treatment unit at the Arslan field have been put into operation.
Construction and installation work is underway on the Dengizkul and South Tandyrcha booster compressor stations.
The comprehensive measures of the Program will allow Uzbekistan to increase the natural gas production by 100 billion cubic meters and gas condensate up to 1.5 million tons by 2030.
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