Lukoil secures $500-million loan for Uzbekistan development

PJSC Lukoil said it received a $500-million loan to finance development of the Gissar Group’s gas-condensate fields in southeastern Uzbekistan (OGJ Online, Mar. 28, 2012).

The 5-year unsecured loan is for Soyuzneftegaz Vostok Ltd., a wholly owned indirect subsidiary of Lukoil, and is provided by a consortium of banks based in Luxembourg, France, Japan, Italy, Germany, the Netherlands, Russia, and Austria.

Lukoil said the production-sharing agreement for the Gissar project was signed in 2007 and the first gas fields were commissioned in 2011. At yearend 2015, proved reserves were 241 million boe, Lukoil said.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Reach New Heights: Six Best Practices in Planning and Scheduling

These 6 best practices have created millions of dollars in value for many global companies. Learn...

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...