consortium of Hyundai Engineering and SICIM wins contract for Karachaganak GPPA consortium of South Korea's Hyundai Engineering and Italy's SICIM has received a letter of award from Kazakhstan's state-owned QazaqGaz for the construction of a major gas processing plant (GPP) at the Karachaganak field, SICIM said Tuesday.The plant, to be built in northwestern Kazakhstan, will have the capacity to process up to 5 billion cubic meters of raw gas per year. Construction is expected to be completed by 2030."In partnership with Hyundai Engineering, SICIM has received a Letter of Award (LOA) from QazaqGaz for the construction of a large-scale gas processing facility and related infrastructure capable of processing up to 5 billion cubic meters (BCMA) of raw gas per year in northwestern Kazakhstan," SICIM said in a statement on its website.Kazakhstan had previously dropped Shell and Eni from the project after the Karachaganak operators failed to reach a final investment decision. The plant had earlier been slated for completion in 2028.The Karachaganak oil and gas condensate field is one of the largest in the world. Its reserves are estimated at 1.2 billion tonnes of oil and 1.35 trillion cubic meters of gas. It is operated by Karachaganak Petroleum Operating B.V., which is comprised of Shell that owns a 29.25% holding in KPO through its 100% affiliate company BG Karachaganak Ltd, Eni (29.25%), Chevron (18%), LUKOIL (13.5%), and KazMunayGas (10%). Karachaganak Petroleum Operating has been developing the Karachaganak field since 1997 on the basis of a 40-year production sharing agreement.Gas from Karachaganak is currently processed at the Orenburg gas processing plant in Russia. A long-term purchase agreement between Karachaganak Petroleum Operating and KazRosGas was signed in 2007 and extended in 2015 through 2038, covering volumes of up to 9 billion cubic meters per year.Hyundai Engineering is a major South Korean EPC contractor, part of the Hyundai Motor Group, specializing in large-scale turnkey industrial projects. SICIM is an Italian oilfield services EPC company focused on construction and maintenance of oil and gas facilities. (ICE ALMATY)

Fonte notizia: INTERFAX