Sunday, 16, June, 2024

On March 16, President Shavkat Mirziyoyev hosted the President of LUKOIL Vagit Alekperov, the presidential press service said.

At the meeting, Vagit Alekperov reported in detail to the President on the progress of the investment and socially significant projects in Uzbekistan where LUKOIL is involved.

The parties reportedly focused on the ways to overcome the consequences of the pandemic and the implementation of joint projects and reached an agreement on the creation of an interdepartmental working group and the adoption of a "road map" to improve the efficiency of projects and expand strategic cooperation with Lukoil.

“The company is preparing for the second investment cycle, which is worth about US$ 2 billion of investments in our projects. Shavkat Mirziyoyev examined this program in detail, and, of course, we and our partners - Uzbekneftezag and the Ministry of Energy - are now preparing proposals,” Vagit Alekperov told Uzbekistan 24 following the meeting.

Today Lukoil is one of the largest investors in the economy of Uzbekistan - the volume of investments has reached US$ 10 billion, the statement added. The capacity of the Kandym gas processing plant is over 8 BCM of natural gas. The development of the Khauzak and Shady fields, as well as the South-West Gissar is underway.

Earlier, Vagit Alekperov already spoke about the company's intention to invest another US$ 2 billion in projects in Uzbekistan. These funds will be used to reduce the decline in gas production at the fields in South Gissar and the Kandym group.

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