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16

Lukoil Bought Hydrocarbon Assets in Uzbekistan

Lukoil will also invest about $700 mln in the gas fields development

Russia's bigget private oil producer Lukoil said it has acquired several hydrocarbon assets in Uzbekistan from SoyuzNefteGaz company for an undisclosed amount in order to gain access to eight gas fields in the Central Asian republic.

Lukoil will also invest about $700 mln in the gas fields development, to produce about 3 bln cubic metres of gas per year.

According to Lukoil, it expects to reach the production target in four years.