During the Azerbaijani-Korean business forum in Baku in August 2006 the Korean National Oil Company will present to the State Oil Company of Azerbaijan (SOCAR) its proposals on possible purchase of SOCARs stake in Inam project, the SOCAR told Trend.
The Korean company voiced his will to acquire no less than 20% of 50% stake of Azerbaijan in this project.
During the Korean Presidents official visit to Azerbaijan the two countries signed a document on Mutual Understanding in the sphere of development of Caspian Sea fields between Azerbaijan and Korea. The document was undersigned by the SOCAR and the Korean Ministry of Natural Resources.
At present the Korean company is studying geological-geophysical materials on the project operated by Р'Р .