Peru approves oil exploration for S. Korean-Colombian venture

SEOUL, June 13 (Yonhap) -- Peru has officially approved the oil exploration of Peruvian sea mines auctioned off to a joint venture between a South Korean state company and a Colombian firm, the local foreign ministry said Sunday.

   The approval of the two mines at the waters near the capital city of Lima came after South Korean lawmaker Lee Sang-deuk held a meeting on Thursday with Peruvian President Alan Garcia over the two nations' cooperation in the energy sector, according to the Ministry of Foreign Affairs and Trade.

Lee, who is also South Korean President Lee Myung-bak's elder brother, was visiting Peru to attend a local firms' launch event of a gas plant there.

   In the meeting, Lee sought the Peruvian government's swift sealing of the decision in 2008 to allow Savia Peru, a joint venture between Korea National Oil Corp. and Ecopetrol SA, to explore for petrol at the two mines, the ministry said.

   In the talks with the Peruvian leader, Lee also discussed a set of measures to prop up energy sector collaboration between the two countries, it said.

   pbr@yna.co.kr
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Source: http://english.yonhapnews.co.kr/business/2010/06/13/47/0502000000AEN20100613001900320F.HTML

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