Hyundai wins US $66 mil. Suban gas plant project: Report
Friday, February 23 2001 - 07:00 AM WIB
Korean construction company Hyundai Engineering & Construction has won a gas plant project valued at $66 million from Indonesia, company officials quoted by Korea Herald daily as saying yesterday.
Ordered by Gulf Canada Resources Co., Suban Gas Project will involve construction of a gas processing facility in Palembang on South Sumatra with a daily capacity of 8.5 million cubic meters and installation of a 50 km pipeline.
Suban gas field is located within Corridor Block production sharing contract (PSC) where Gulf holds 54 percent of working interest, while Canadian oil company Talisman Energy holds 36 percent. Another 10 percent is held by Indonesian sate oil company Pertamina.
According to Gulf The Suban Gas project is targeted for completion by mid-2002 and will add incremental sales capability of approximately 95 mmcf/d net to Gulf Indonesia.
The Suban Gas Project is expected to supply the gas required for the additional deliveries to Caltex required by the Caltex II gas sales contract.
Hyunday official said the company received the order in the form of turn-key, meaning it will see the entire process from design to purchase of materials to construction and trial runs.(*)