Korea Offers Iraq Infrastructure for Right to Develop Oil Fields

摘要

South Korea has pledged to spend $3.55 billion building infrastructure in Iraq in return for the right to develop oil fields around the southern city of Basrah - home to some of the country's biggest oil fields. The memorandum of understanding (MOU) was signed Tuesday by Korean President Lee Myung-bak and his Iraqi counterpart, Jalal Tala-bani, who was visiting Seoul.