Lukoil is likely to launch the Kandym-Kuauzak-Shady gas project in southwest Uzbekistan on November 24, according to Uzbekneftegaz, Uzbekistan's national oil and gas company.
"This will be the start of Lukoil's practical activity in Uzbekistan," the source said.
Lukoil and Uzbekneftegaz signed a PSA for the project in June for 35 years. Investment is planned at $1 billion. Russia owns 90% of the consortium set up by Lukoil and Uzbekneftegaz and Uzbekistan owns 10%.
The proven geological gas reserves in the contract zone total 283 billion cubic meters.
Kandym is the largest field with more than 150 billion cubic meters of gas. Annual gas production will peak at about 9 billion cubic meters and total production will reach 207 billion cubic meters of natural gas.
