Thursday, 31 August 2006

SOUTH KOREA JOINS UZBEK GAS CONSORTIUM

Published in News Digest

By empty (8/31/2006 issue of the CACI Analyst)

South Korea and Uzbekistan have signed a production sharing agreement that gives South Korea\'s state-run Korea National Oil Corp. (KNOC) a 20-percent stake in an international consortium to develop gas resources on the Aral Sea, Yonhap reported on August 30. Other members are state-owned oil and gas company Uzbekneftegaz, Russia\'s LUKoil Overseas, Malaysia\'s Petronas, and China National Petroleum Corporation.
South Korea and Uzbekistan have signed a production sharing agreement that gives South Korea\'s state-run Korea National Oil Corp. (KNOC) a 20-percent stake in an international consortium to develop gas resources on the Aral Sea, Yonhap reported on August 30. Other members are state-owned oil and gas company Uzbekneftegaz, Russia\'s LUKoil Overseas, Malaysia\'s Petronas, and China National Petroleum Corporation. Consortium members will put up $100 million for exploratory drilling over the next three years. Production on the field, which is believed to contain 8 trillion cubic feet of natural gas, will not start until 2012. (ITAR-TASS)
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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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