Ustyurt Gas Chemical Complex (GCC) on the bases of Surgil field will be commissioned in the middle of October, head specialist of the department of technical policy of Uzbekneftegaz Sanjar Berdiev said last week.
He said that works on launch of the Ustyurt Gas Chemical Complex is closing to completion.
Uz-Kor Gas Chemical was founded by Uzbek and Korean companies in May 2008 to develop, finance, construct and exploitation of integrated gas and oil processing project in Ustyurt region of Uzbekistan.
Uzbekneftegaz owns 50% stake in the joint venture, while Uz-Kor Gas Chemical Investment holds 50% share. Korea Gas Corporation (KOGAS), Honam Petrochemical and STX Energy are Korean founders of the venture.
The cost of the project is US$4.16 billion. The project participants will allocate US$1.4 billion and attract US$2.5 billion from financial institutions to implement the project.
Ustyurt Gas Chemical Complex will ensure processing of 4.5 billion cubic meters of gas and produce 3.7 billion tank gas, 387,000 polyethylene and 83,000 tonnes of polypropylene, as well as 102,000 tonnes of pyrolized petroleum and other products.