Lukoil and Uzbekneftegaz make some amendments in economic parameters of production sharing agreement on Kandym-Hauzak-Shady-Kungrad project

Lukoil has signed a supplementary agreement to the production sharing agreement (PSA) with respect to the site of the Kandym group of fields, the Khauzak and Shady sites, as well as the Kungrad site in Uzbekistan. 

According to the press centre of the company, the signing of the additional agreement took place on May 20, 2016. The document was signed by the Prime Minister of Uzbekistan Mr. Ibragimov, vice-president of Lukoil S. Nikiforov and Uzbekneftegaz’s Board chairman Alexander Sultanov. 

It is known that the additional agreement makes a number of adjustments in the economic parameters of the PSA for the Kandym-Khauzak-Shady-Kungrad project to ensure more favorable conditions for the implementation of the project for the consortium of investors –Lukoil and Uzbekneftegaz.