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S. Korean Oil Firm To Ink MoU With Iraqi Ministry On Tech Aid

Source: www.gulfoilandgas.com 7/31/2005, Location: Middle East

(KNOC) will sign a memorandum of understanding with Iraqi Oil Ministry in the Jordanian capital of Amman on Aug. 1 on support of technology for oil development. Under the deal, the KNOC will provide the ministry with state-of-the-art technologies for drilling oil and both sides will conduct a joint survey of Iraqi oil drilling blocs. "The ministry, recognizing our high oil development technology, has called for the deal," Yonhap News quoted a KNOC official as having said.

The MOU will boost the KNOC's participation in Iraqi oil development projects in the future. Iraq has an oil reserve of 112.5 barrels, the world's second largest after Saudi Arabia.

South Korea, the world's fourth-largest crude buyer, relies totally on imports for its oil needs. It brings in nearly 80 percent of the shipments from UAE and other Middle East countries.

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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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