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Seychelles woos South Korean oil and gas explorers

Victoria, Seychelles | March 18, 2014, Tuesday @ 17:30 in Business » ENERGY | By: Hajira Amla | Views: 1100

(Seychelles News Agency) - Two of the largest South Korean oil and gas companies Korea National Oil Corporation (KNOC) and SK Innovation (SK)have been presented with the opportunity to explore the ocean floor in the Seychelles Exclusive Economic Zone (EEZ), according to a press statement issued today by the Seychelles Ministry for Foreign Affairs.

The presentations took place during a visit by Seychelles’ Secretary of State for Foreign Affairs, Barry Faure, to the Asian country. Faure who is also the chairperson of the state-owned company responsible for regulating the hydrocarbon sector of the Indian Ocean archipelago, PetroSeychelles, emphasized the need for exploration and extraction techniques which are environmentally friendly while meeting with two companies, said the statement.

Both KNOC and SK reportedly expressed interest in conducting further research on the exploration opportunities.
As part of his wider activities on his official visit to South Korea, Ambassador Faure met with the Vice Minister of the Korean Oceans and Fisheries ministry, Son Jae Hak, where Seychelles requested Korea’s cooperation on the development of Seychelles’ oceans and fisheries.

During another high-level meeting, Korea’s Deputy Minister of Foreign Affairs, Lee Kyung Soo, and Ambassador Faure highlighted how the state visits of Seychelles’ President James Michel to South Korea in 2009 and 2012 had been instrumental in fostering good relations, growth in tourism and cooperation between the two countries.

Ambassador Faure’s visit then took him to Jeju Island off the coast of South Korea, recently named as one of the world’s new Seven Wonders of Nature in order to discuss opportunities for bilateral cooperation between Seychelles and the volcanic island, which, like Seychelles, is mainly dependent on tourism for its survival.

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Tags: Korea National Oil Corporation, KNOC, SK Innovation

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