NHC Uzbekneftegaz and the Russian Gazprom carry out a project on the construction of a gas and chemical complex in Surkhandarya region with geological exploration works on the investment block Uzbekiston Mustaqilligi

The complex will produce polyethylene, polypropylene and sulfur. In the future, it is planned to expand the enhanced gas processing for the production of olefins - ethylene glycol, rubber, polyethylene terephthalate, and others.

The total amount of investments under the agreement can reach $5.8 billion, making the investment project the largest in the modern history of Uzbekistan. The project will be financed in line with the principles of international project financing, involving major international financial institutions and export credit agencies.

The synergetic effect of development of the gas and chemical industry will contribute to the development of such sectors as medicine, pharmaceuticals, car engineering, construction, creation of a strong foundation for the establishment of private enterprises that would produce products from petrochemical feedstock, as well as establishment of logistics industry that would engage transnational automobile and rail transport corridors.

The production sharing agreement on the investment block Uzbekiston Mustaqilligi with supplementary exploration and development of the Mustaqillikning 25 Yilligi field, which is expected to be a feedstock base for the GCC, was signed during the recent visit of the President of Uzbekistan to Russia. The consortium of investors included Gas Project Development Central Asia AG, Altmax Holding Ltd and Uzneftegazdobycha.

The program on expansion of hydrocarbon production for 2017-2021 in Uzbekistan envisages $3.9 billion of investments. The total increase in production within this period will amount to 53.5 billion cubic meters of natural gas, 1.1 million tons of gas condensate and 1.9 million tons of oil.

(Source: «Uzbekistan Today» newspaper)
 

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