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. Last Updated: 07/27/2016

Uzbekistan Invites Oil, Gas Investment

TASHKENT, Uzbekistan -- Uzbekistan's energy holding company, Uzbekneftegaz, has invited investors to develop eight oil and gas fields requiring total outlays of $242 million, the company said in a statement Thursday.

The fields, developed at present by Uzbekneftegaz, include North Shurtan, South Kyzylbairak and Shakarbulak, which together yield 646,000 metric tons of oil a year (13,000 barrels per day). The South Tandyrcha, Gumbulak and Dzharkuduk fields produce 2.5 billion cubic meters of gas and 90,000 tons of condensate a year, the statement said.

Uzbekneftegaz said $25 million in investments would also be needed at the Umid and South Kemachi fields in order to boost output to 100,000 tons of oil, 30,000 tons of gas condensate and 2.0 bcm of natural gas per year. It did not mention their current production levels.

The other two projects are for a $45 million gas compressor station at Gazli and a $20 million plant to utilize flared gas at Kokdumalak.