Page 19 - Oil&Gas-AustralAsia-2015-Issue-2
P. 19
K OREA
Korean industry looks forward to the end of
Iran sanctions
By Marie RYAN
A consortium of South Korean Analysts said a series of construc- “But the nuke deal this time would
construction firms are looking for- tion and infrastructure projects may pave the way for South Korean firms
ward to the dropping of economic be up for grabs for South Korean to tap deeper into the nation,” Mr
sanctions on Iranian capital Tehran, firms. Jong-kuk said.
industry sources said in April. In the past decades, South Korean South Korean refiners are also
Cho Hak-hee, an analyst at the Ko- builders had clinched deals worth expecting to diversify their import
rea International Trade Association $12 billion with Iran, but since 2009 lines, which would eventually help
(KITA) said although South Korea’s there have been few deals due to the them improve their earnings. Last
exports to Iran are less than 1 per economic sanctions that the Unit- year, only two refiners; SK Inno-
cent of its total outbound ship- ed Nations imposed for its nuclear vation Company and Hyundai
ments, its growth potential is huge weapons program in 2010. Oilbank Incorporated imported
next to that of Saudi Arabia,” Mr Kim Jong-kuk the manager of the Iranian oil.
Hak-kee said. Middle East division at the Interna- Their combined imports in 2011
“If economic sanctions are lifted, tional Contractors Association of reached 87.18 million barrels worth
our exporters would find good busi- Korea said until 2000, Iran was the $9.2 billion, but tumbled to 44.92
ness opportunities in the country,” fourth-largest market for South Ko- million barrels worth $4.5 billion in
he said. rean construction firms after Saudi 2014, according to industry data.§
Arabia, Libya and Iraq.
s & Terminals
Holding Alongside
www.industrialroadshow.com EXPO
Danga City Mall, Johor, Malaysia
SINGAPORE +65-6405 0110 MALAYSIA +603-8060 5110
The Premier Event for
Oil & Gas Industries
in Southeast Asia
www.oilandgasaustralasia.com A AMAY/JUNE 2015 OIL & GAS ustral SIA 17
Korean industry looks forward to the end of
Iran sanctions
By Marie RYAN
A consortium of South Korean Analysts said a series of construc- “But the nuke deal this time would
construction firms are looking for- tion and infrastructure projects may pave the way for South Korean firms
ward to the dropping of economic be up for grabs for South Korean to tap deeper into the nation,” Mr
sanctions on Iranian capital Tehran, firms. Jong-kuk said.
industry sources said in April. In the past decades, South Korean South Korean refiners are also
Cho Hak-hee, an analyst at the Ko- builders had clinched deals worth expecting to diversify their import
rea International Trade Association $12 billion with Iran, but since 2009 lines, which would eventually help
(KITA) said although South Korea’s there have been few deals due to the them improve their earnings. Last
exports to Iran are less than 1 per economic sanctions that the Unit- year, only two refiners; SK Inno-
cent of its total outbound ship- ed Nations imposed for its nuclear vation Company and Hyundai
ments, its growth potential is huge weapons program in 2010. Oilbank Incorporated imported
next to that of Saudi Arabia,” Mr Kim Jong-kuk the manager of the Iranian oil.
Hak-kee said. Middle East division at the Interna- Their combined imports in 2011
“If economic sanctions are lifted, tional Contractors Association of reached 87.18 million barrels worth
our exporters would find good busi- Korea said until 2000, Iran was the $9.2 billion, but tumbled to 44.92
ness opportunities in the country,” fourth-largest market for South Ko- million barrels worth $4.5 billion in
he said. rean construction firms after Saudi 2014, according to industry data.§
Arabia, Libya and Iraq.
s & Terminals
Holding Alongside
www.industrialroadshow.com EXPO
Danga City Mall, Johor, Malaysia
SINGAPORE +65-6405 0110 MALAYSIA +603-8060 5110
The Premier Event for
Oil & Gas Industries
in Southeast Asia
www.oilandgasaustralasia.com A AMAY/JUNE 2015 OIL & GAS ustral SIA 17
