Exploring new energy opportunities in Angola

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2006-10-13 16:56

Seoul--(뉴스와이어)--Senior officials of Korea and Angola signed a Memoradum of Understanding (MOU) that will allow Korean companies to take part in oil and gas development projects in the east African nation. Lee Won Gul, Vice Minister of the Ministry of Commerce, Industry and Energy (MOCIE) and his counterpart, Angolan Oil Minister Desiderio Costa signed the MOU on Tuesday in Seoul.

With the MOU, Korean companies will be able to explore and develop oil and gas fields, both on land and offshore, in Angola. Korea hopes to win the rights to one or two Angolan fields, which may be offered in the first half of next year.

Angola is Africa's second largest crude oil producer, behind only Nigeria. The African nation produces 1.24 million barrels per day, with known reserves of 9 billion barrels.

웹사이트: http://www.mocie.go.kr

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