Azerbaijan, Korea to sign a MOU on Caspian fields development
A memorandum on understating on cooperation in the sphere of development of Caspian fields between Azerbaijan and Korea will be signed in Baku, the Korean charge daffairs in Azerbaijan, Lew Kwang-Chul told journalists.
The document will be signed during the Korean President Roh Moo-hyuns forthcoming official visit to Azerbaijan on 10-12 May 2006. The document will be inked by the SOCAR and the Korean Ministry of Natural Resources
The diplomat stressed Koreas interest in the participation in the development of Inam field in the Caspian Sea. Korea put every effort for expansion of cooperation with Azerbaijan, on one huge oil producers in the region, in the sphere of field development and exploitation of energy resources. The Korean National Corporation and other Korean companies in close cooperation with the Azerbaijani government actively study the opportunities for participation in the projects on development of oil and gas fields, the Korean charge daffairs noted.
The talks will continue under the Korean Presidents forthcoming visit to Azerbaijan, the diplomat underlined.