LUKoil and Itera have organized a joint task force for elaboration onseveral projects on oil and gas exploration in Uzbekistan, the pressservice of the Uzbekneftegaz company reported. It is expected that theconsortium will create a joint stock company that will be exploringhydrocarbon resources in the Kungrad district and will be producing gas inthe Bukhara-Khivinsky and Gissarsky regions of Uzbekistan. The expectedvolume of investments in these projects is $720m. Gas production from thesefields may amount to 7bn cubic meters per year. The LUKoil and Itera willhave a 45 percent stake each in the new company and Uzbekneftegaz will havea 10 percent block of shares..
Russia has left the list of 33 largest holders of US government bonds, after the country disposed of at least a third of remaining bonds