The agreement covers the Kandym, Khauzak and Shady fields, which have estimated reserves of between 250 billion and 280 billion cubic metres of gas.
The deal calls for an investment of $1 billion to help reach an output of between 8 billion and 10 billion cubic metres of gas per year.
Lukoil entered the project in 2001 with a 45% stake. However, development never began because Uzbekistan's production sharing legislation was incomplete.
Lukoil
