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Russian Lukoil is ready to invest $480 million in Uzbek gas fields

LUKOIL intends to invest $480 million into developing gas fields in Uzbekistan in 2010.

 

 

LUKOIL intends to invest $480 million into developing gas fields in Uzbekistan in 2010, Deputy Russian Prime Minister Sergey Ivanov told journalists today, RIA-Novosti reports. “In 2010, LUKOIL has taken on the obligation to invest $80 million into development and geological studies”, Ivanov said. He added that in recent years, the company’s accumulated investments in Uzbekistan have reached several billion dollars.


“You have to agree – that is a lot”, he said. Earlier, LUKOIL Vice-President Leonid Fedun said the company planned to invest 8-8.5 billion a year, mot of which would be allocated to production projects.

Source : Novosti Azerbaijan