LGI aims to structure a business portfolio ranging from energy production to sales, which is a strategy that ensures a stable supply and distribution of energy.
Our crude oil business comprises of five sectors, such as bunkering, exports of oil products, supply of naphtha, stock-sale, and supply of jet oil.
The bunkering business is devoted to fuel ships harbored on Korean waters. Also, we import crude oil and export primary refined oil products to China, Japan, and other nations. We are also pushing ahead to supply naphtha produced in the Middle East to LG Petrochemicals Co., and also to companies in Japan and other nations. Besides, we are also engaged in the business of fueling aircrafts and in "stock-sale" business by securing tanks.
LGI also participates in projects that are involved in the development of overseas oil fields and gas fields.
Oman's Bukha oil fields, which were site of an important project the company participated in 1997, are now producing about 1,500 barrels of condensate and 1,000 barrels of LPG daily. We also plan drilling test and production in the West Bukha within a different structure within the mining field.
Vietnam's 11-2 mining field, which was our project in 1992, will soon be home to advanced gas field facilities with construction to be completed by the end of 2006.
Seven domestic companies' joint project of RasGas LNG initiated in Qatar in 1999 produces higher-than-expected dividend profits driven by high oil prices and increased sales, and is expected to contribute to our company's stable revenue sources at least until 2025.
We positively participated in projects of exploring oil fields in Central Asia, dubbed as "the second Middle East." Thus, in 2005, we participated and are now operating Kazakhstan's ADA inland mines, which have an estimated deposit of 170 million barrels of oil. We are set to push ahead with gradual exploration work. If this project leads to a successful production, it will mark an important milestone in the history of our oil development efforts.