Tag Archives | Korea

$500m Floating Oil Terminal arrives from S Korea

A new $500-million floating oil rig has arrived in Libyan coastal waters from South Korea. The Gaza Floating, Storage, Offloading Marine Terminal (FSO) was built by STX and delivered to the Mellitah-operated offshore Bouri field, 120 km northwest of Tripoli, according to Libya Herald. It will replace the existing, Sloug FSO, which has been on […]

New Allegations of Corruption in the Libyan Oil Industry

By John Lee. An investigation by Fairfax Media — publisher of The Age and The Sydney Morning Herald newspapers — and The Huffington Post, claims that Monaco-based Unaoil has been involved in widespread bribery and corruption in the oil industry, including in Iraq, Iran and Libya. Following examination of tens of thousands of emails, the report says that Unaoil […]

Korea gives $1.2m Humanitarian Assistance to Libya

UN System in Libya and Republic of Korea Commit to strengthen the Humanitarian Assistance to Libya The Korean Government has contributed USD 1.18 million to support the humanitarian assistance to Libya. The contribution aims at augmenting the United Nations’ ongoing involvement to address the humanitarian needs resulting from the armed conflict in Libya. The Ambassador […]

Libya is Daewoo’s Top Customer

Daewoo Engineering and Construction has become the second Korean company to surpass $50 billion in cumulative overseas orders, after Hyundai Engineering and Construction first did so eight years ago, reports Chosun Ilbo. By country, Libya accounted for the most orders with $11.4 billion, followed by Nigeria with $6.7 billion, Algeria with $4.2 billion and Morocco […]

Korea Gives Libya $7m DNA Lab

The Korean government presented tools, equipment and vehicles to the Libyan Ministry of Martyrs and Missing Persons Affairs in an effort to aid in the search and identification of missing persons, which are a result of the country’s revolutionary conflict. The project was proposed by the Libyan government in 2011, and a memorandum of understanding […]

S. Korea, Libya Discuss Economic Cooperation

The foreign minister of South Korea, Kim Sung-hwan, met his Libyan counterpart, Ashour Bin Khayal, in Seoul on Tuesday to discuss enhancing bilateral relations, as Seoul seeks to increase its post-war reconstruction role in the North African country, according to a report from Yonhap News Agency. The ministers discussed Korea’s efforts to support Libya’s reconstruction, […]

Libya geopolitical risks challenge STX

STX Group, Korea’s shipping and shipbuilding conglomerate, is seeking to win Libya’s huge energy infrastructure projects, which company officials said could be worth up to $10 billion. STX Group officials said STX Heavy Industries signed a memorandum of understanding on building energy, steel desalination and other facilities in Libya’s northern region of Tobruk early last […]