Korea Gas Corporation (KOGAS) is set to sell its 49 per cent stake in Iraq’s Akkas gas field for US$287mn
The South Korean gas firm is under pressure from the country’s new government to shed assets and pay off debt by 2017, Reuters reported.
A company source at KOGAS has confirmed that selling part of its holdings in the gas field was possible.
KOGAS, reportedly the world’s top corporate buyer of LNG, had signed a deal in 2011 to develop the Akkas gas field in the western province of Anbar, with reserves of 158.5bn cubic metres.
