• 4 minutes China goes against US natural gas
  • 12 minutes WTI @ 67.50, charts show $62.50 next
  • 15 minutes Saudi Fund Wants to Take Tesla Private?
  • 14 mins Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 10 hours Rattling With Weapons: Iran Must Develop Military To Guard Against Other Powers
  • 16 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 5 hours Russians hacking vs U.S., Microsoft President: Russians Targeting All Political Sides
  • 5 hours VW Receives Massive Order Of 1,600 All-Electric Trucks
  • 13 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 17 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 10 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 20 hours The EU Loses The Principles On Which It Was Built
  • 1 day Starvation, horror in Venezuela
  • 11 hours Corporations Are Buying More Renewables Than Ever
  • 1 day How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 1 day The Discount Airline Model Is Coming for Europe’s Railways

Uzbek Natural Gas Project to Receive Equipment from Malaysian Companies

Malaysia’s KNM Group BHD and Russia’s Lukoil Uzbekistan Operating Company have signed $71.63 million contracts with the Uzbek government for equipment supply.

The majority of Uzbekistan’s prospected oil fields are operated by state-owned oil and gas group Uzbekneftegaz, which is seeking to form joint venture partnerships with international companies to boost its out from its current level of roughly 105,000 barrels per day.

Oil consumption between 2010 and 2019 is set to increase by 55.1 percent, with growth averaging an assumed 5.0 percent per annum towards the end of the period
In May KNM Group BHD won a tender to supply equipment for the country’s Qandim-Hauzak-Shodi project, while in 2007 began natural gas production in Uzbekistan as part of the Qandim-Hauzak-Shodi-Qugirot production sharing agreement, which was signed in 2004 for a period of 35 years, Tashkent UzDaily.uz website reported.

Lukoil already has a presence in Uzbekistan –last month Russian Lukoil president Vagit Alekperov said that his company intends to develop alternative energy projects in Uzbekistan, commenting that Lukoil in partnership with the government of Uzbekistan and the Asian Development Bank was planning to construct Uzbekistan’s largest solar energy plant, which will have an initial capacity of 100 megawatts, to be expanded eventually to 1,000 megawatts.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News