Lukoil intends to invest additional $2 billion in its existing projects in Uzbekistan, head of the Russian company Vagit Alekperov said at an on-site meeting of the board of directors, which took place today in the territory of the Kandym gas processing complex in the Bukhara region.

He confirmed that the company is "ready for new investments" and for new exploration.

“The company has big investment plans in the existing projects. We intend to invest $2 billion in order to reduce potential decline in gas production at the Gissar and Kandym fields,” Alekperov told reporters.

Earlier this year, he said that the company hopes to discover new hydrocarbon reserves in three investment blocks in the Navoi region.

“The three blocks on which we began exploration works require quite a lot of effort. The responsibility the company assumes before the leadership of the republic enables us to do all our work in a timely manner. Therefore, I believe that we will do everything we can and focus on these projects” Alekperov added.