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Few details emerge about strange South Korea-Iraq oil deal

South Korea will provide Iraq with $3.55 billion worth of infrastructure in return for oil field stakes, the Energy Ministry said. South Korea would be given rights to the fields in southern Basra, which covers the majority of Iraq’s crude output. In exchange, Seoul would build infrastructure such as power plants and generators, the ministry said in a statement.
Wednesday 25 February, 2009 02:07 PM

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