Turkmenistan, Ashgabat, April 15 / Trend H. Hasanov /
South Korean consortium of LG International and Hyundai Engineering Co.LTD won the international tender for development of gas-bearing deposit South Yoloten in eastern Turkmenistan. It began its development.
Heads of these two companies, Ha Yong Bong and Kim Dong Wook informed the Turkmen President about the progress of this joint project, Altyn Asyr national TV channel said.
Estimated reserves of "South Yolotan" were confirmed by British auditor Gaffney Cline & Associates (GCA) - up to 14 trillion cubic meters of natural gas. The South Korean consortium got the contract for design and construction of a complex cleaning commercial gas from sulfur with annual capacity of 10 billion cubic meters worth $1,484 billion (VAT included) on one part of South Yoloten field in December 2009.
The winners of the marathon were Chinese CNPC Chuanqing Drilling Engineering Company Ltd, Petrofac International LLC and Gulf Oil & Gas FZE from the UAE.
During a meeting with South Korean leaders Turkmen President Gurbanguly Berdimuhammedov said that Turkmenistan is implementing a strategy of large-scale socio-economic reforms and focuses on the latest achievements in science, technology and innovation.