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S Korea And Kazakshstan
Agree To Develop Caspian Oil

5-26-4
 
South Korea and Kazakhstan have signed a memorandum of understanding (MOU) on jointly developing oil fields in the Caspian Sea, home to one of the world's largest oil reserves, according to the Ministry of Commerce, Industry and Energy on Sunday.
 
Minister of Commerce, Industry and Energy Lee Hee-beom disclosed the agreement Saturday in Seoul, after wrapping up a trip to Germany and the Central Asian nation.
 
The two countries also inked an agreement on conducting joint mineral resources surveys in Kazakhstan, Lee said.
 
Lee had started a six-day trip to Kazakhstan and Germany Wednesday, but had to abruptly cancel the remainder of his schedule in Kazakhstan and Germany following the passage of a parliamentary bill to impeach President Roh Moo-hyun Friday.
 
Some 70 government and private-sector representatives, including Korea National Oil Corp. president Yi Ok-su, Korea Gas Corp. head Oh Kang-hyun and Korea Resources Corp. chief Park Chun-taek, accompanied the minister.
 
http://times.hankooki.com/lpage/biz/200403/kt2004031418593011860.htm


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