South Korean KNOC leaves two upstream-projects in Uzbekistan

The South Korean Korea National Oil Corporation (KNOC) has decided to stop the search for hydrocarbon raw materials at two projects in Uzbekistan, a source that is close to the projects reported to the RIA Novosti on Friday.

“The decision of projects termination is connected with the company’s total strategy on minimization of financial expenses and commercial inexpediency of the further participation in them,” – the source reported.

As the agency Platts reported on Friday, referring to representatives of the South Korean company, that KNOC can sell its Canadian subsidiary – the petrochemical company Harvest Operations in order to improve its financial situation.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer