Uzbekistan To Launch $2.9 Bln Gas Chemical Complex In May 2024
Date
11/16/2023 3:11:53 PM
(MENAFN- AzerNews) Uzbekistan plans to commission a gas chemical complex with
capacity of 5 billion cubic meters of gas in the Surhandarya region
in May 2024, the Uzbek president's press service said, Azernews reports, citing Interfax.
President Shavkat Mirziyoyev visited the site on Thursday.
"The cost of this project, being carried out by the foreign
enterprise Surhan Gas Chemical Operating Company, is $2.9 billion.
The complex will have capacity to produce and process 5 billion
cubic meters of gas per year," the statement says.
Investment in the development of the 25 Years of Independence
field, on the basis of which the complex is being built, amounts to
$1.45 billion so far. Drilling has been completed at 20 wells, and
11 wells have been successfully tested. Foundation work and
construction of metal structures are almost complete.
"More than 7,000 people are currently working on the
construction. The first stage will be launched in May next year and
will reach full capacity in 2025," the press service said.
The project will use technology licensed by Shell. It meets the
very latest environmental requirements and is designed to
neutralize 99% of harmful production waste.
"The main goal should not be to sell raw but processed gas and
value-added products. For rapid return on investment and the plant
to be competitive it is necessary to ensure that the end product is
of high quality and profitable," Mirziyoyev was quoted as
saying.
The Uzbek government in April 2017 signed a 35-year production
sharing agreement with a consortium of investors - Gas Project
Development Central Asia, Altmax Holding and Uzneftegazdobycha - at
the Uzbekistan Mustakilligi or Uzbekistan Independence investment
block with further exploration and development of Mustakillikning
25 Yilligi or 25 Years of Independence field with construction of a
gas chemical complex.
Total investments were estimated at $5.27 billion when the PSA
was signed.
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