LUKOIL RAISED A LOAN TO FINANCE A PART OF THE CONSTRUCTION COSTS FOR GPP IN UZBEKISTAN
Thursday, April 19, 2018
LUKOIL has raised a USD 660 million loan with a ten years maturity to finance a part of the incurred construction costs for gas processing plant at the Kandym field in the Republic of Uzbekistan.
LUKOIL Overseas Uzbekistan Ltd. acts as a borrower. The loan was provided by ING Bank, UniCredit Bank and Deutsche Bank. Insurance is provided by the Korea Trade Insurance Corporation (K-Sure).
The agreement represents a new level of financial cooperation between the Republic of Uzbekistan, the Republic of Korea and LUKOIL Group and confirms high investment prospects of projects in the region.
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Today LUKOIL has commissioned a Gas Processing Complex at the Kandym fields cluster in Uzbekistan. The construction of the Kandym Gas Processing Complex was completed exactly two years since its start and eight months ahead of the schedule. The official opening ceremony was attended by the President of the Republic of Uzbekistan Shavkat Mirziyoyev, Minister of Energy of the Russian Federation Aleksander Novak and the President of PJSC "LUKOIL" Vagit Alekperov.
LUKOIL has reached a progress milestone at its South-West Gissar project
in Uzbekistan as it successfully launched the main production and
process facilities there. Gas production at the Gissar fields cluster reached planned production
level of 14 million cubic meters a day, or 5 billion cubic meters per