BUKHARA REGION, Uzbekistan, Apr 25 (PRIME) -- Russian oil major Lukoil plans to invest U.S. $2 billion in existing projects in Uzbekistan and to explore new blocks, CEO Vagit Alekperov told reporters on Thursday.
“The company is in for a large investment cycle in our existing projects, it amounts to about $2 billion,” he said, adding that the money will be spent to reduce contraction of natural gas output at the South Gissar and Kandym fields.
Lukoil also aims at new investment and new geological exploration in the period.
“We are sure that everything here will develop dynamically…We have much work to do over the three blocks where we’ve just started exploration. We don’t want to spread ourselves thin…So I think that we will settle with them,” he said.
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