VEB.RF State Corporation, Gazprombank and Surhan Gas Chemical Operating Company have signed basic indicative terms for financing the development of the 25 Years of Independence field, the largest gas project in Uzbekistan.
“The project includes the construction of a gas processing plant and infrastructure facilities in the Surkhandarya region of Uzbekistan with the production, transportation and sale of natural gas,” VEB.RF said.
In accordance with the agreement, Russian financial institutions are ready to provide loans in the amount of $ 900 million.
The total cost of the field development project, meanwhile, is estimated at $ 1.75 billion. At the moment, 477 million dollars of investments have been attracted.
Gas field M25
It and the construction site of the gas processing plant are located 20 kilometers from the town of Baysun in the Surkhandarya region.
It is currently the largest undeveloped gas field in Uzbekistan.
The total reserves are estimated at 150 billion cubic meters of raw gas – this includes both proven and probable reserves.
The M-25 project is being implemented by a consortium of international investors on the terms of the Production Sharing Agreement concluded with the Republic of Uzbekistan in April 2017.
The shareholders are ALTMAX HOLDING LTD, Uzbekneftegaz and Gas Project Development Central Asia AG.
The operator under the Production Sharing Agreement is Surhan Gas Chemical Operating Company LLC.