QazaqGaz signs EPC contract with Hyundai Engineering, SICIM for Karachaganak gas plantA QazaqGaz subsidiary has signed an engineering, procurement and construction (EPC) contract with a consortium of South Korea’s Hyundai Engineering Co., Ltd. and SICIM Kazakhstan LLP to build a gas processing plant at the Karachaganak field, the national gas company said on Thursday.“On Nov 12, during a working visit to South Korea, QazaqGaz Management Board Chairman Alibek Zhamauov met partners in the project to build a gas processing plant with a capacity of 5 billion cubic meters a year,” QazaqGaz said. “The plant will receive feedstock from the Karachaganak field in the West Kazakhstan region. The meeting ended with the signing of the EPC contract.”The contract was signed by QazaqGaz Processing LLP, a QazaqGaz subsidiary.“The plant will significantly increase processing of raw gas from the Karachaganak field,” the company said. “It will also supply the domestic market with more sales gas, liquefied petroleum gas and sulfur, strengthening the country’s energy security and the region’s economic potential.”The consortium was selected earlier as the EPC contractor for the plant. QazaqGaz, Hyundai Engineering and SICIM Kazakhstan signed an agreement to build it on Sept 15.Karachaganak is one of the world’s largest fields, with oil reserves of 1.2 billion tonnes and gas reserves of 1.35 trillion cubic meters. It is developed under a 40-year production sharing agreement signed in 1997 with the Karachaganak Petroleum Operating B.V. consortium. Its shareholders are Shell (29.25%, held through its affiliate BG Karachaganak Limited), Eni (29.25%), Chevron (18%), Lukoil (13.5%) and KazMunayGas (10%).QazaqGaz represents the state in Kazakhstan’s domestic and export gas markets. It is part of the Samruk-Kazyna sovereign wealth fund and operates the country’s trunk gas pipelines and distribution networks.Hyundai Engineering is a South Korean EPC contractor and part of Hyundai Motor Group. It specializes in large turnkey industrial projects.SICIM Kazakhstan is the local arm of an Italian EPC contractor that builds and services oil and gas facilities. (ICE ALMATY)

Fonte notizia: INTERFAX