KOGAS to Invest $4.9bn in Zubair

By John Lee.

The Korea Gas Corporation (KOGAS), the state-run South Korean gas company, is to invest $4.9 billion (5.7 trillion Iraqi dinars) to develop the Zubair oilfield.

In a stock exchange filing, the company said this investment is part of the total $19.4 billion capital expenditure required for the project, and added that it had invested $370 million in the first half of 2015.

KOGAS is developing the field together with Eni and Occidental.

(Source: Reuters)

(Picture: Seung-hoon Lee, CEO of KOGAS)

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