Lukoil Commissions $3.4 Billion Kandym Gas Processing Complex, Uzbekistan
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Russian oil giant Lukoil has commissioned the Kandym gas processing complex in Uzbekistan, two years after breaking ground on the $3.4bn project.
Located at the Kandym field cluster in the Bukhara Province in south-west of Uzbekistan, the new gas processing complex will have an annual capacity of 8 billion cubic meters of gas.
It has been designed to convert gas produced from the Kandym field cluster to marketable gas, stable gas condensate, and marketable sulfur. The Kandym field cluster is made up of Kandym, Akkum, Parsankul, Kuvachi-Alat, Khoji and West Khoji condensate fields.
Lukoil constructed the Kandym gas processing complex as part of the Kandym-Khauzak-Shady-Kungrad product sharing agreement (PSA) it holds with Uzbekneftegaz, the Uzbek national oil firm, for the development of the Kandym cluster.
Russia President Vladimir Putin said: “The delivery of this sophisticated, technologically-intensive project was possible due to the coherent productive work of specialists from Russia and Uzbekistan, expert managerial decisions of LUKOIL’s executives and its partners from neighbourly Uzbekistan.
“Built with the use of the advanced technological solutions and factoring in the most up-to-date health, safety and environmental protection requirements, the new Gas Processing Complex will become one of the largest in Central Asia.”
Lukoil drilled 77 wells and had established a gas gathering facility at the Kandym fields. With the Kandym gas processing complex placed into service, the pre-drilled wells at the gas cluster can be launched to achieve the project’s plateau production level inside a short timeframe, said the Russian oil producer.
Lukoil President Vagit Alekperov said: “The Kandym Gas Processing Complex is a unique project where the most challenging technical ideas and the world’s cutting-edge technologies were applied. The project was completed in the shortest possible timeframe and on budget.”
In another development, Lukoil has secured a loan of $660m with a ten years maturity from ING Bank, UniCredit Bank and Deutsche Bank to finance a part of the construction costs it had incurred for the Kandym gas processing complex.
Source: Energy Business Review
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