Uzbek-Korean JV announces tender for drilling of wells
Tashkent, Uzbekistan, Dec.1
By Demir Azizov- Trend:
The Uz-Kor Gas Chemical Uzbek-Korean joint venture has announced a tender for drilling and development of 50 wells at the Surgil gas field in Uzbekistan, which is the main raw material base for the Ustyurt Gas Chemical Complex (UGCC), said the message of the joint venture.
The tender will last until late December 2015, said the message. The starting project cost has not been specified in the message of the joint venture.
The representative of the Uz-Kor Gas Chemical joint venture said that the drilling and development of new wells at the Surgil field is intended to ensure stable and reliable supply of processing capacities of the Ustyurt GCC with gas.
It was earlier reported that the Uzbek-Korean joint venture Uz-Kor Gas Chemical finished construction of the Ustyurt gas chemical complex worth $4.16 billion in October.
The complex will annually process 4.5 billion cubic meters of natural gas and produce up to 4 billion cubic meters of marketable gas, 387,000 metric tons of polyethylene, 83,000 metric tons polypropylene and 102,000 metric tons of pyrolysis gasoline.
The raw material base of the project is the field Surgil, East Berdakh-Uchsay and North Berdakh. The largest of them, Surgil, with reserves of about 120 billion cubic meters of gas, was opened in 2006.
It was previously reported that in February 2008 Uzbekneftegaz and a consortium of Korean companies Kor-Uz Gas Chemical Investment established Uz-Kor GasChemical JV on a parity basis for the Ustyurt GCC construction project on the Surgil field. The consortium of Korean companies currently includes Kogas, Lotte Chemical and STX Energy.
The project was financed through loans of commercial banks in Asia, Europe and Uzbekistan in the amount of $2.54 billion.