Page 24 - Oil&Gas-AustralAsia-2015-Issue-1
P. 24
K OREA
Korea joins with Kuwait to share
knowledge and resources
By Marie RYAN
A Petroleum Gas Technical Cooper- Through the MOU, the KNOC is plan- diplomatic relations between the South
ation MOU was signed in March be- ning to improve its skill in domestic re- Korea.
tween Korea National Oil Corporation source development, helping domestic “In a year marking the 50th anniversary
(KNOC) and the Kuwait Petroleum research institutes and improving com- of the advance into overseas construc-
Corporation (KPC) to seek more joint mercial knowledge in fields, including tion business and the entrance into the
business opportunities and to encour- oil exports and increasing production. Middle East some 40 years ago, the visit
age the exchange of human resources, The international agreement also in- is expected to serve as an opportunity
knowledge, and information through creases Korea’s participation in resource to capitalise on the ‘second Middle East
technical cooperation in petroleum development services and joint research boom’ that started in the late 2000s, as a
development. and development businesses in Kuwait. new growth engine to facilitate the im-
The memorandum of understanding South Korean President Park Geun-hye plementation of the Three-year Plan for
covers oil geology, oil engineering, visited Kuwait in March during a three- Economic Innovation,” Korean officials
research, and development in the oil day official visit to Qatar as part of her stated.
development and human resources. tour of four Gulf Cooperation Council President Park’s visit to Kuwait was the
Both companies will share and coordi- countries. first by a Korean president since March
nate information on oil fields, including President Park’s first stop of the Middle 2007.
elastic wave data processing, reservoir East tour was Kuwait where the two “South Korea hopes that its companies
modelling, drilling, oil well completion, countries signed three agreements and can participate in big industrial and
oil well management, enhanced oil re- memorandums of understanding. infrastructure projects being pushed
covery, next-generation energy resourc- The Kuwait Petroleum Corporation by Middle East countries, as they seek
es and business management. (KPC) and South Korea’s, Korea Na- to diversify their economic portfolios
The Korean and Kuwaiti companies will tional Oil Corporation (KNOC), SK ahead of the inevitable advent of a post-
also discuss cooperation methods at Gas Company and Kia Shore Company oil era amid a recent plunge in crude
joint workshops in the future. inked three memos of understanding. prices,” South Korea’s Yonhap news
They included an agreement on mutual agency reported ahead of President
visa exemption for holders of diplo- Park’s tour.
matic and special passports, a memo President Park has described Middle
of understanding in the field of health East countries as perfect partners for
and another memo of understanding on South Korea as they are pushing for
bilateral land transportation co-opera- development in various fields, including
tion. energy and healthcare.
Diplomatic sources said the President Kuwait leaders HH the Emir Sheikh
had wide-ranging talks in Doha, with Tamim bin Hamad al-Thani paid
the focus on strengthening economic a successful visit to South Korea in
and cultural relations. November further cementing bilateral
relations. §
President Park Geun-hye Lee Jin-Man/Associated The South Korean government said
Press the presidential trip to the Middle East
carried added significance in expanding
A A22 OIL & GAS ustral SIA MARCH/APRIL 2015 www.oilandgasaustralasia.com
Korea joins with Kuwait to share
knowledge and resources
By Marie RYAN
A Petroleum Gas Technical Cooper- Through the MOU, the KNOC is plan- diplomatic relations between the South
ation MOU was signed in March be- ning to improve its skill in domestic re- Korea.
tween Korea National Oil Corporation source development, helping domestic “In a year marking the 50th anniversary
(KNOC) and the Kuwait Petroleum research institutes and improving com- of the advance into overseas construc-
Corporation (KPC) to seek more joint mercial knowledge in fields, including tion business and the entrance into the
business opportunities and to encour- oil exports and increasing production. Middle East some 40 years ago, the visit
age the exchange of human resources, The international agreement also in- is expected to serve as an opportunity
knowledge, and information through creases Korea’s participation in resource to capitalise on the ‘second Middle East
technical cooperation in petroleum development services and joint research boom’ that started in the late 2000s, as a
development. and development businesses in Kuwait. new growth engine to facilitate the im-
The memorandum of understanding South Korean President Park Geun-hye plementation of the Three-year Plan for
covers oil geology, oil engineering, visited Kuwait in March during a three- Economic Innovation,” Korean officials
research, and development in the oil day official visit to Qatar as part of her stated.
development and human resources. tour of four Gulf Cooperation Council President Park’s visit to Kuwait was the
Both companies will share and coordi- countries. first by a Korean president since March
nate information on oil fields, including President Park’s first stop of the Middle 2007.
elastic wave data processing, reservoir East tour was Kuwait where the two “South Korea hopes that its companies
modelling, drilling, oil well completion, countries signed three agreements and can participate in big industrial and
oil well management, enhanced oil re- memorandums of understanding. infrastructure projects being pushed
covery, next-generation energy resourc- The Kuwait Petroleum Corporation by Middle East countries, as they seek
es and business management. (KPC) and South Korea’s, Korea Na- to diversify their economic portfolios
The Korean and Kuwaiti companies will tional Oil Corporation (KNOC), SK ahead of the inevitable advent of a post-
also discuss cooperation methods at Gas Company and Kia Shore Company oil era amid a recent plunge in crude
joint workshops in the future. inked three memos of understanding. prices,” South Korea’s Yonhap news
They included an agreement on mutual agency reported ahead of President
visa exemption for holders of diplo- Park’s tour.
matic and special passports, a memo President Park has described Middle
of understanding in the field of health East countries as perfect partners for
and another memo of understanding on South Korea as they are pushing for
bilateral land transportation co-opera- development in various fields, including
tion. energy and healthcare.
Diplomatic sources said the President Kuwait leaders HH the Emir Sheikh
had wide-ranging talks in Doha, with Tamim bin Hamad al-Thani paid
the focus on strengthening economic a successful visit to South Korea in
and cultural relations. November further cementing bilateral
relations. §
President Park Geun-hye Lee Jin-Man/Associated The South Korean government said
Press the presidential trip to the Middle East
carried added significance in expanding
A A22 OIL & GAS ustral SIA MARCH/APRIL 2015 www.oilandgasaustralasia.com
