Uzbekneftegaz awards contract to Korean consortium to build gas-chemical plant

26-Aug-11

Uzbekistan's Uzbekneftegaz has awarded US$2.6 bln contracts to build Ustyurt gas-chemical plant to a South Korean consortium comprising of GS Engineering & Construction, Samsung Engineering, Hyundai Engineering and Korea Gas Corporation (KOGAS). The contracts were signed for engineering, procurement, and construction (EPC) of the Ustyurt gas-chemical plant on the Surgil gas field base. Uzbekneftegaz and the South Korean group formed a joint venture UzKorGasChemical in 2008, at an estimated cost of over US$4 bln. The Natural gas field Surgil contains a large amount of valuable components, in particular, 4.8% ethane. With 60 bln cubic meters of gas produced Uzbekistan is 2nd highest among CIS countries, after Russia, for natural gas production.