PRESS OF UZBEKISTAN
November 30, 2016
LUKOIL ACQUIRED A LOAN OF $ 500 MILLION FOR THE PROJECT ON THE DEVELOPMENT OF GISSAR GROUP OF GAS-CONDENSATE FIELDS IN UZBEKISTAN
As part of the project on the development of Gissar group of gas-condensate fields in Uzbekistan, Lukoil has acquired an unsecured loan in the amount of $500 million for a period of five years.
The loan was provided by a consortium of following commercial banks: Intesa Sanpaolo Bank Luxembourg S.A. (Luxembourg), Natixis (France), Mizuho Bank Ltd. (Japan), UniCredit S.p.A. (Italy), VTB Bank AG (Germany), ING Bank N.V. (Netherlands), Raiffeisenbank (Russia) and Raiffeisen Bank International AG (Austria).
The agreement on production sharing under the Ïissar project was signed in January 2007. The first gas field Jarkuduk - Yangi Kyzylcha was put into operation as part of the ‘Early gas’ stage in December 2011. In 2012, the Gissar block achieved the designed production level - more than 1.1 billion cubic meters of natural gas per year. The support base of the production field was launched in March of 2016, followed by settlement of the personnel.
As part of the ‘Full development” stage in 2017, it is planned to launch an integrated gas preparation unit Jarkuduk with the capacity of 4.4 billion cubic meters of gas per year, and thereby increase the production up to the design level.
(Source: «Uzbekistan Today» newspaper)