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Korean oil companies fail to pass the pre-qualification process for oil exploration rights in Iraq.


04-04-2009 - 09:55

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State-run Korea National Oil Corp (KNOC) and SK Energy said on Friday they had failed to pass the pre-qualification process for oil exploration rights in Iraq. The firms said they were not notified of the reasons, but some sources and from Baghdad said it was due to their involvement in contracts with Iraq\'s autonomous Kurdish region. KNOC and SK Energy said their investments in the region would not be affected. \"We weren\'t notified of the reason but we will continue our investments in the Kurdish region,\" said a spokesman at KNOC, when asked if the Kurdish deal had hindered the qualification process.


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