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KOGAS to begin operation of Uzbek gas field next month

All Headlines 11:25 September 16, 2015

SEOUL, Sept. 16 (Yonhap) -- South Korean state-run utility firm Korea Gas Corp. (KOGAS) said Wednesday that it plans to start the operation of a gas field in Uzbekistan next month, which may bring about 84 billion won (US$71 million) in revenue annually to the world's No.1 importer of natural gas.

In 2008, a South Korean energy consortium signed an accord with Uzbekistan's state-owned Uzbeknefgaz to jointly develop the Surgil gas block in western Uzbekistan near the Aral Sea.

The Surgil well is estimated to hold more than 130 million cubic feet of natural gas.

KOGAS said earlier that its total investment is estimated at $3.9 billion, with the company holding a 17.5 percent state in the joint company. Other South Korean firms such as STX Energy Co. have participated in the project.

Gas produced from the well will be processed in a gas-chemical plant in the Central Asian country, and be sold in Uzbekistan or exported to Europe and China.


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