Lukoil to Sign Production Sharing Agreement with Uzbekistan

Lukoil plans to sign a production sharing agreement for the Kandym-Hauzak-Shady natural gas development project in Uzbekistan, according to Lukoil's senior vice chairman, Azat Shamsuarov.

The Kandym-Hauzak-Shady group of fields, which is in the Bukhara-Khiva district, contains a probable 300 billion cubic meters of gas. A direct investment of $760 million and overall investments of $1 billion would be involved. Production would peak at 8.8 billion cubic meters annually.