South Korea and Kazakhstan sign Caspian deal
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.
Minister of Commerce, Industry and Energy Lee Hee-beom disclosed the agreement in Seoul, after wrapping up a trip to
Germany and the Central Asian nation. The two countries also signed an agreement on conducting joint mineral
resources surveys in Kazakhstan, Lee said.
Lee had started a six-day trip to Kazakhstan and Germany, 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.
Some 70 government and private-sector representatives, including Korea National Oil president Yi Ok-su, Korea Gas
head Oh Kang-hyun and Korea Resources chief Park Chun-taek, accompanied the minister.
