Korea to invest over $30 bln in Iraqi energy projects
Azerbaijan, Baku, Oct.12 / Trend, A.Taghiyeva /
Korea Gas Corporation (KOGAS) plans to invest $30.7 billion in energy projects in Iraq from 2013 to 2017, a source in Iraqi government told Trend on Friday.
He said about ten percent of the allocated sum, that is, $3 billion will be spent for ensuring security during implementation of the company's projects.
KOGAS implements energy projects on four gas and oil blocks in Iraq.
According to BP, the proved reserves of gas in Iraq as of late 2011 amounted to 3.6 trillion cubic meters.
According to BP, Iraq's proven oil reserves amounted to 143.1 billion barrels as of late 2011.
The country ranks third in OPEC after Saudi Arabia and Iran.
The major oil fields of Iraq are Rumaila, Zubair, Nahr Umr, Majnoon and West Qurna in the south of the country.