Tokyo, 19Feb2001
South Korea's state-run Korea National Oil Corp has signed a memorandum of understanding with Canada's Alberta state on oil sand development business in the north American country, a KNOC statement obtained Monday said. Under the agreement, KNOC will send a study team on oil sand development to Alberta, and both parties will co-sponsor an oil sand development seminar. The Alberta state government will also provide chances for other Korean companies to take part in the oil sand development project. KNOC said the oil sand in Alberta has 1.4-trillion of crude oil resource and 300-bil bbl of recoverable reserve.
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S Korea's KNOC signs oil sand deal with Canada's Alberta
South Korea's state-run Korea National Oil Corp has signed a memorandum of understanding with Canada's Alberta state on oil sand development business in the north American country
