Uzbekistan and Gazprom International have entered into the production sharing agreement (PSA) for the Djel field development project in Karakalpakstan, the Uzbekneftegaz said.
The agreement shall be valid for 25 years. “Within the framework of the project, Uzbekistan will make profits from participating in the PSA, with many jobs created”, - Uzbekneftegaz added.
The Djel field was discovered within the Shakhpakhti investment block in 2009. It is located on the Ustyurt plateau in the Kungrad district of Karakalpakstan. The field reserves amount to 6.4 BCM of gas and 76 thousand tons of gas condensate.
In 2002, Gazprom and Uzbekneftegaz signed a strategic cooperation agreement, providing for Gazprom’s participation in natural gas production projects in Uzbekistan under the production-sharing agreement terms . Since 2004, Gazprom, under the terms of the PSA, has been involved in the restoration of gas production at the Shakhpakhti field.