LUKOIL STARTS KANDYM
LUKOIL started the construction of Kandym Gas Processing Complex (KGPC) – a key production facility in development of the Kandym group of gas condensate fields located in the Bukhara Province in the south-west of the Republic of Uzbekistan.
The ceremony for laying the foundation stone was attended by Prime Minister of the Republic of Uzbekistan Shavkat Mirziyoyev, President of PJSC LUKOIL Vagit Alekperov and representatives of local authorities and contractors.
The Kandym Gas Processing Complex will include construction of a gas treatment plant capable of processing 8.1 billion cubic meters of gas per year, as well as a natural gas gathering system, which, at its peak, will comprise 114 producing wells, 11 well pads and 4 gathering stations. 370 km of gas pipelines will be installed and 160 km of motorways will be built. Around 7,000 people will be involved in the construction of the complex and infrastructure facilities.
"The beginning of construction of the Kandym Gas Processing Complex marks a new stage in the development of gas resources in Uzbekistan. The complex will be one of the largest in Central Asia, and its operation will enable the creation of more than two thousand full-time employment positions," noted Prime Minister of the Republic of Uzbekistan Shavkat Mirziyoyev.
"The Kandym Gas Processing Complex will involve the best experts and cutting edge process solutions while ensuring compliance with the highest health, safety and environment standards. This is the Company's largest investment project in Uzbekistan," said Vagit Alekperov, President of PJSC LUKOIL.
LUKOIL implements the Kandym Group of Fields development project together with National Holding Company Uzbekneftegaz under the Kandym-Khauzak-Shady-Kungrad Production Sharing Agreement. The Kandym group consists of six gas condensate fields – Kandym, Kuvachi-Alat, Akkum, Parsankul, Khoji and West Khoji.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.