Oil for ships: Korea pitches Brazil

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Seoul: Korea is hoping to participate in a large-scale oil field development project in Brazil, taking advantage of its successful shipbuilding industry, local media in Seoul reported.
The Knowledge Economy Ministry on Sunday said it will seek to win rights to develop oil fields in Brazil in return for providing deep-sea drill ships and floating production storage and offloading vessels, which are necessary for oil and gas field development.
A delegation including Vice Knowledge Economy Minister Kim Young-hak and members from 46 energy companies or related organizations will visit Brazil, Colombia and Peru from March 9 to 20, to discuss cooperative measures for the possible development with Petrobras, South America's largest oil company.
Samsun Heavy Industries has already entered a tie up with Petrobras to build a slew of tankers on Brazilian soil. [10/03/09]