(MENAFN - Trend News Agency ) Baku, Azerbaijan, Sept. 25
By Ali Mustafayev – Trend:
Russian company "LUKOIL" intends to invest $3 billion in projects in Uzbekistan by 2022, said Vagit Alekperov the head of the company, UzDaily reported.
He added that the company needs to invest an additional $3 billion to fully develop all the facilities in Kandym and Gissar regions.
'After the completion of this investment cycle, LUKOIL may start investing in new projects in Uzbekistan,' said Alekperov.
Meanwhile, President of Uzbekistan Shavkat Mirziyoyev has ordered to prepare new projects after the investment cycle is completed.
By the end of 2017, the total amount of LUKOIL's investments Uzbekistan's projects will reach $6 billion.
"LUKOIL" is expected to bring the level of gas production in Uzbekistan up to 16 billion cubic meters by 2020, 8 billion cubic meters will be produced in Kandym, 5 billion cubic meters in Gissar and 3 billion cubic meters in Khauzak.
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