Russian entrepreneur and infrastructure investor, Andrey Filatov, chairman Tuloma investment company, has joined a consortium to invest in a liquid natural development.
‘The 25 Years of Independence’ field is estimated to cost over £2billion.
The project will see further exploration of the existing development alongside the construction of a gas chemical complex in the Surkhandarya region in the south of Uzbekistan.
Investors in the natural gas field include Gas Project Development Central Asia AG, Altmax Holding Ltd and Uzneftegazdobycha (a member of Uzbekneftegaz). The Surhan Gas Chemical Operating Company, established by members of the investment consortium to operate oil and gas PSA projects, manages the field development.
Leading gas field service companies, such as Halliburton, Baker Hughes, Schlumberger and National Oilwell Varco have been contacted for execution.
As one of the main investors, Andrey Filatov will take a 37.5% stake in the development.
Filatov said: “Uzbekistan is one of the leading countries in natural gas production. An ongoing massive government program to step up conversion and boost exports of finished products envisions, among others, creating a favourable investment climate and attracting new foreign investors. It is a great honour for me to join this project and participate in the consortium.
“The Uzbek economy is developing rapidly; the country demonstrates openness and has been creating new opportunities for business. I am confident that such a welcoming policy will indeed attract a wide circle of new players to the country, including large European and U.S. investors, international consortia of banks and other financial institutions.”
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