Kogas to Sell Stake in Akkas Field

By John Lee.

According to a report from Platts, South Korea’s state-owned Korea Gas Corporation (KOGAS) plans to sell a 47 percent stake in its 100 percent-controlled Akkas gas field.

The company is under pressure from the Korean government to reduce its debts.

The project was originally awarded to a consortium of Kogas and KazMunaiGas (KMG), but KMG pulled out in 2011, leaving Kogas as sole investor and operator on new contract terms.

(Source: Platts)

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