Daewoo Int’l to Develop Uzbek Mines
26 Febrary 2008 08:47
Daewoo International signed a deal with Uzbekistan’s state-run energy firm UNG to develop two mines in the northwestern region of the Central Asian country, according to the South Korean general trading company Monday.
Located near the country’s border with Kazakhstan, the Koskudyk and Ashibulak mines belong to a region where Russian and Chinese companies have recently been exploring oil and natural gas actively, The Korea Times reported.
``We are going to explore the two mines in Uzbekistan for the next five years as the sole operator with a 100 percent stake,’’ a company spokesman said. ``We expect to develop oil or natural gas fields in the region.’’
Daewoo International has been engaged in various resource development projects in foreign countries such as Myanmar, Azerbaijan and Canada.
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