UZBEKISTAN: RUSSIAN OIL FIRM LUKOIL SIGN BILLION DOLLAR AGREEMENT IN TASHKENT TO DEVELOPE UZBEK NATURAL GAS DEPOSITS.

Record ID: 344844

  • Title: UZBEKISTAN: RUSSIAN OIL FIRM LUKOIL SIGN BILLION DOLLAR AGREEMENT IN TASHKENT TO DEVELOPE UZBEK NATURAL GAS DEPOSITS.
  • Date: 16th June 2004
  • Summary: (U6) TASHKENT, UZBEKISTAN) (JUNE 16, 2004) (REUTERS -- ACCESS ALL) 1. TRACK: RUSSIAN PRESIDENT VLADIMIR PUTIN AND UZBEK PRESIDENT ISLAM KARIMOV ENTER HALL PAST DELEGATIOPN TO DESK. (2 SHOTS) 0.15 2. PAN: UZBEK AND RUSSIAN DELEGATIONS STANDING. 0.20 3. MV: DELEGATIONS FROM LUKOIL AND UZBEKNEFTEGAZ SIGN BILLION-DOLLAR OIL DEAL AS RUSSIAN PRESIDENT VLADIMIR PUTIN AND UZBEK PRESIDENT ISLAM KARIMOV LOOK ON. 0.30 4. SCU: PRESIDENT OF LUKOIL VAGIT ALEKPEROV SIGNING AGREEMENT. 0.34 5. CU: CAMERAMAN. 0.38 6. MV: DELEGATIONS TRADING COPIES OF AGREEMENT TURN AND SHAKE HANDS WITH PUTIN AND KARIMOV.. 0.51 7. WS: OF ROOM WINE IS BROUGHT ON TO TOAST AGREEMENT. 0.58 8. WS: MEDIA. 1.04 9. VARIOUS: RUSSIAN PRESIDENT VLADIMIR PUTIN AND UZBEK PRESIDENT ISLAM KARIMOV WITH CHAMPAGNE GLASSES, TOASTING OIL DEAL AND AGREEMENT ON SECURITY. 1.21 10. SCU: (SOUNDBITE) (Russian) LUKOIL PRESIDENT VAGIT ALEKPEROV SAYING: "We believe that this market project to develop deposits in Uzbekistan was made possible because the needed legal structure was laid down." 1.37 11. WS: DELEGATIONS LEAVING HALL. 1.43 Initials Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 1st July 2004 13:00
  • Keywords:
  • Location: TASHKENT, UZBEKISTAN
  • Country: Uzbekistan
  • Reuters ID: LVA5J2BA1EKCW7EWBL7FSIEEXTLU
  • Story Text: INTRO: Russia and Uzbekistan sign billion-dollar oil deal.



    Russian oil firm LUKOIL signed a $1 billion US.

    dollar deal on Wednesday (June 16) to develop Uzbek natural
    gas deposits. This is Uzbekistan's -- formerly part of the
    Soviet Union -- largest such deal to date.

    Russian President Vladimir Putin and Uzbek President
    Islam Karimov attended the signing in the Uzbek capital of
    Tashkent.

    The Production Sharing Agreement had been on hold since
    July 2001 while the Russians waited for legal changes --
    introduced last October -- that gave foreigners more
    guarantees and allowed them to offset tax bills against
    expenditure.

    LUKOIL will have a 90 percent share in the project,
    with Uzbekistan's Uzbekneftegaz holding the remaining 10
    percent.

    Although Uzbekistan is the most populous state among
    the five former-Soviet Central Asian republics, it has
    barely reformed its economy since communism collapsed and
    has been shunned by most Western investors.

    The fields in southern Uzbekistan have reserves of 280
    billion cubic metres (bcm), LUKOIL said. LUKOIL will
    develop the Kandym, Khauzak and Shady fields, extract the
    first gas in 2007 and achieve a peak output of 8.8 bcm per
    year. Uzbekistan produced 57 bcm last year.



  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register