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Uzbekistan : Reconstruction and Development Fund of UZBEKISTAN to allocate $66 mln to UZBEKNEFTEGAS in 2014

June 9, 2014

The Uzbek Reconstruction and Development Fund will allocate a loan worth $ 66 million for the Uzbekneftegaz National Holding Company to acquire high-tech equipment for exploration operations in 2014, a source in government circles.

The loan funds will be used to purchase seismic stations, as well as a wide range of equipment for seismic exploration operations.

Uzbekneftegaz programs to transfer $ 170 million for the program of technological updating of the enterprises until 2020.

Uzbekneftegas National Holding Company produces 70 billion cubic meters of natural gas and 8 million tons of liquid hydrocarbons per year.

The recoverable proven reserves of hydrocarbons in Uzbekistan as of early 2014 amounted to more than 2.5 billion tons of fuel equivalent. Some 65 percent of this amount falls to natural gas reserves.

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Source: TendersInfo (India)

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