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Korean company announces the recovery of its investments in Iraq's oil fields
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Economy News _ Baghdad South Korea's Kogas said on Tuesday it had recovered its $ 2.49 billion investment in oilfields in Iraq. "South Korean company Kogas, which is responsible for the development of the Zubayr field in southern Iraq, recovered $ 2.53 billion in December, exceeding initial expenditures," South Korea's Yonhap news agency reported. Kogas, Italy's ENI and US Occidental Petroleum have signed a 20-year contract with the Iraqi government since 2010 to develop the Zubair oilfield, where the field pumps about 360,000 barrels of crude oil per day. The project also includes the drilling of 200 oil wells, the construction of treatment and storage facilities and the renovation of existing facilities. [You must be registered and logged in to see this link.] |
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