State oil firms and Korea Institute of Geoscience and Mineral Resources to research oil field development
State-owned Abu Dhabi National Oil Company (Adnoc) has signed a deal with two South Korean organisations to cooperate on research and development in UAE oil field activities.
The memorandum of understanding (MoU) was signed with Korea National Oil Corporation (KNOC) and Korea Institute of Geoscience and Mineral Resources.
KNOC is part of the Korea Abu Dhabi Oil Corporation (Kadoc) joint venture, which also includes South Korean group GS Energy. The company was awarded three Abu Dhabi oil concessions in 2012.
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