A consortium of U.A.E.-based, Chinese and South Korean companies have won a tender worth a total of $10 billion to develop Turkmenistan's South Yolotan gas field, the state information agency reported late Tuesday.
A consortium of U.A.E.-based, Chinese and South Korean companies have
won a tender worth a total of $10 billion to develop
Turkmenistan
's
South
Yolotan
gas field, the state information agency reported late Tuesday.
"President Gurbanguly Berdymukhamedov signed a decree allowing the state
Turkmengaz concern to cinch deals of a total $10 billion with foreign companies
to develop the
South Yolotan
field," the agency said.
The U.A.E.-based Gulf Oil & Gaz Fze would map and build underground
infrastructure to provide up to 20 billion cubic meters of gas a year, for
$1.15 billion, officials said.
China
's
CNPC Chuanging Drilling Engineering company would conduct similar works that
would provide up to 10 billion cubic meters of gas annually, according to a
contract worth over three billion dollars.
A South Korean consortium including LG International Corp. (001120.SE) and
Hyundai Engineering Co. would build a refinery to cleanse up to 10 billion
cubic meters of gas of sulphur annually, for a total of $1.5 billion.
The U.A.E.'s Petrofac International, a unit of Petrofac Ltd. (PFC.LN) would
construct a similar refinery and several factories above ground to secure up to
20 billion cubic meters of gas a year, for a total of nearly $4 billion, the
agency said.
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