An Amendment to the Product Sharing Agreement (PSA) for Kandym group of fields, Khauzak, Shady and Kungrad areas has been signed in the city of Tashkent.

The document has been signed by Deputy Prime Minister of the Republic of Uzbekistan Mr. Gulomzhon Ibragimov, Vice President of PJSC LUKOIL Mr. Sergey Nikiforov and Chairman of the Executive Board of National Holding Company (NHC) Uzbekneftegaz Mr. Alisher Sultanov.

The Amendment entails a number of adjustments to the economic indicators of Kandym-Khauzak-Shady-Kungrad PSA. Such adjustments will ensure more favorable project implementation conditions for the investors' consortium (PJSC LUKOIL and NHC Uzbekneftegaz).

Background:

Kandym-Khauzak-Shady-Kungrad PSA was signed on June 16, 2004. The first startup facility (Khauzak-Shady gas field in Bukhara Region) was commissioned in November 2007 under the PSA. In April 2016, PJSC LUKOIL and NHC Uzbekneftegaz started implementing the next important step of the PSA – construction of Kandym Gas Processing Complex of 8.1 bcmpa design capacity.