For 35 years, Uzbekistan has denied claims that it has handed over its oil and gas fields to Russia.
TASHKENT, February 13 – RIA Novosti. The Uzbek authorities have not transferred the exclusive rights of all oil and gas fields to companies connected with Russia for 35 years, we are talking only about the development of a field in the south of the country in terms of production sharing. agreement (PSA), declaration Journalists on Monday, the country’s Energy Minister Zhurabek Mirzamakhmudov.
Earlier, the Uzbek service of Radio Liberty* reported that in 2017, during the visit of President of Uzbekistan Shavkat Mirziyoyev to the Russian Federation, it transferred to the Russian side the full and exclusive control of all oil and gas fields in the country for 35 years. .
The Minister explained that most of the gas and oil fields developed in Uzbekistan belong to Uzbekneftegaz JSC. According to him, the Radio Liberty* material only refers to the 25 Years of Independence gas field located in the Surkhandarya region in the south of the country and is being developed by a group of investors under a production sharing agreement.
Mirzamakhmudov added, “All costs are 100% borne by investors … At least 50% of the net income (from the project – ed.) will go to the treasury of Uzbekistan”.
In April 2017, the government of Uzbekistan signed a production sharing agreement with a consortium of investors – Central Asia Gas Project Development, Altmax Holding and JSC “Uzneftegazdobycha” – with additional exploration and development on the “Independence of Uzbekistan” investment block. “25 years of independence” and the construction of a gas processing complex in the Surkhandarya region. In October 2018, the parties determined the commercial terms of the project and approved the establishment of a single investor, Suhran Investments Limited, to increase project financing.
The project, with a total cost of $5.27 billion, is planned to be implemented in two stages. In the first phase, it is planned to drill wells, develop the field, conduct exploration works in the investment block, and build an infrastructure and gas processing facility in 2018-2022. At the second stage, from 2023 to 2025, it is planned to build a gas chemical complex with a capacity of 1.5 billion cubic meters of gas with the annual production of up to 500 thousand tons of polymer products with deep processing. commercial gas. PSA is designed for 35 years.
In April 2021, VEB.RF, Gazprombank and the project’s operator, Surhan Gas Chemical Operating Company, signed key indicative terms of $900 million to finance the “25 Years of Independence” development.
*Mass media pretending to be a foreign agent
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.