LUKoil ready to invest $ 480 mm in Uzbek gas fields

Apr 03, 2010 02:00 AM

LUKoil intends to invest $ 480 mm into developing gas fields in Uzbekistan in 2010, Deputy Russian Prime Minister Sergey Ivanov told.
"In 2010, LUKoil has taken on the obligation to invest $ 80 mm into development and geological studies", Ivanov said.

He added that in recent years, the company's accumulated investments in Uzbekistan have reached several billion dollars.
"You have to agree -- that is a lot," he said.
Earlier, LUKoil Vice-President Leonid Fedun said the company planned to invest $ 8-$ 8.5 bn a year, most of which would be allocated to production projects.

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