Xinhua News Agency|Friday, October 23, 2009
(Posted by CAAI News Media)
Cambodia and South Korea on Friday signed a MOU of cooperation to explore for oil and gas in the Cambodian sea.
The MOU was signed by Cambodian Deputy Prime Minister and Minister of the Council of Ministers Sok An, who is also chairman of the Cambodian National Petroleum Authority (CNPA) and his South Korean counterpart.
The MOU will allow South Korean partner to research and collect data about areas of oil and gas in Cambodian sea and plan to invest in the off-shore oil and gas fields, Sok An said after the signing ceremony.
Ho Vichet, vice chairman of CNPA told reporters that the project will be started after the MOU is effective. "We hope South Korea will invest in oil and gas in Cambodia because they expressed their interests in petroleum in Cambodian."
According to the MOU, South Korea will help training Cambodian human resources on oil and gas areas, Ho Vichet said. Moreover, it will help enhancing the cooperation between the two countries, Young Won Kang, Chairman of Korean National Oil Corporation said.