Surgutneftegaz to Launch Gas Processing Installation in 2004

In 2004, the Surgutneftegaz oil-gas company of the Tyumen Region intends to launch the third phase of a gas processing installation. According to the company's press service, the USD 250 to 300 million construction will begin in 2003. The new phase of the installation should pay for itself in 3 years.

The completion of the project should boost the output by 2.911 billion cubic metres of dry gas, 53,000 tonnes of propane-butane mixture, and 32,000 tonnes of stable gasoline. A feasibility study is being prepared by the SurgutNIPIneft research facility and the joint-stock company's engineers.

The Surgutneftegaz joint-stock company was founded in 1993. Its statutory capital amounts to USD 1.357 billion, the stockholders numbering 47,998.

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