Korean KOGAS Confirms Plans to Sell Akaz Gas Field Shares

Korea Gas Corporation (KOGAS) revealed that it presented to the Korean government a plan to sell a part of its share in Akaz gas field in 2015 or later.

 According to Reuters; KOGAS which is the largest customer of natural gas in the world, did not give details about the plan presented to the Korean government, and did not reveal the size of shares intends to sell.

As KOGAS said : “the sale procedures did not begin yet”.

KOGAS previously stated in a press release that the company is considering selling  49% of Akaz gas field wholly-owned by the company, the share estimated by $ 286.38 million , and intends to keep the operations and development rights.

The three largest energy companies in South Korea – including KOGAS- is under continues pressure from the new government to sell assets and pay its debts before the end of 2017, sources say that each of these companies already submitted a plan to the government regarding this matter.

Korea Gas Corporation (KOGAS) is a public natural gas company established by the Korean government in 1983.
KOGAS signed in 2011 a contract with the Iraqi government to develop and operate Akaz Gas Field located in Anbar province, which is considered the most important natural gas field in Iraq with total reserves of 5.6 trillion cubic feet.

Contact me

Feel free to call me for free initial consulting, I would be more than happy to answer your question:.

  • Iraq Phone: 00964 (780)0008475
  • USA Phone: 001 (202) 6574320

Connect with me

We're on Social Networks. Follow us & get in touch.
You are here: Home News Korean KOGAS Confirms Plans to Sell Akaz Gas Field Shares