A consortium of U.A.E.-based, Chinese and South Korean companies have won a tender worth a total of $10 billion to develop Turkmenistan's South Yolotan gas field, the state information agency reported late Tuesday.
A consortium of U.A.E.-based, Chinese and South Korean companies have won a tender worth a total of $10 billion to develop Turkmenistan 's South Yolotan gas field, the state information agency reported late Tuesday.

"President Gurbanguly Berdymukhamedov signed a decree allowing the state Turkmengaz concern to cinch deals of a total $10 billion with foreign companies to develop the South Yolotan field," the agency said.

The U.A.E.-based Gulf Oil & Gaz Fze would map and build underground infrastructure to provide up to 20 billion cubic meters of gas a year, for $1.15 billion, officials said.

China 's CNPC Chuanging Drilling Engineering company would conduct similar works that would provide up to 10 billion cubic meters of gas annually, according to a contract worth over three billion dollars.

A South Korean consortium including LG International Corp. (001120.SE) and Hyundai Engineering Co. would build a refinery to cleanse up to 10 billion cubic meters of gas of sulphur annually, for a total of $1.5 billion.

The U.A.E.'s Petrofac International, a unit of Petrofac Ltd. (PFC.LN) would construct a similar refinery and several factories above ground to secure up to 20 billion cubic meters of gas a year, for a total of nearly $4 billion, the agency said.

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