South Korea signs agreement with Brazil

摘要

Seoul-South Korea and Brazil signed a memorandum of understanding November 17 that could present oil and gas-related business opportunities to South Korean companies, the country's energy ministry said. Under the deal signed in Sao Paulo, Brazilian state oil company Petrobras would give South Korea first priority in placing orders for petroleum facilities and oil drilling ships, the ministry said. Petrobras, the world's sixth-largest oil company, plans to invest $112.4 billion over the next five years to expand its businesses.