KOGAS to invest US$22m in exploration in Uzbekistan
29/05/2009 14:55
KOGAS to invest US$22m in exploration in Uzbekistan
29/05/2009 14:55
Tashkent, Uzbekistan (UzDaily.com) -- South Korean’s KOGAS is planning to invest US$22 million in geological exploration in Uzbekistan’s Ustyurt region by 2011, Interfax reported.
KOGAS is investing in the hydrocarbon-rich region under an agreement signed with Uzbek state-owned oil and gas firm Uzbekneftegaz in 2008 to study the Uzunkui-Tuaryk section of the Ustyurt region.
Uzbekneftegaz and KOGAS, together with a consortium of South Korean companies including Daesan Petrochemical Corp., LG International Corp., SK Gas Co., and STX Energy, are also planning to build a gas-chemical complex in Ustyurt at an estimated cost of US$2.4 billion.
The preliminary design for the complex envisions processing capacity for 400,000 tonnes of polyethylene and 100,000 tonnes of polypropylene a year.
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