Korea ventures into Brazilian offshore oil projects

A delegation from South Korea including the Vice Minister for Knowledge Economy, Kim Young-hak, arrived earlier this week in Brazil to discuss cooperative measures for possible large scale oil field developments with Petrobras.

South Korea is looking into oil field development projects in Brazil and will seek rights to develop them in return for providing deep-sea drill ships and FPSOs as necessary. The delegation will continue on to Colombia and Peru, ending the trip on March 20.

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