South Korean Oil Cos. Make Move on Gulf of Mexico

The Diamond, Emerald, Gold, and Platinum areas in the Gulf of Mexico are the most recent drilling targets for six South Korean oil companies, according to a South Korean news agency.

Korea National Oil, Keangnam Enterprises, SK Gas Corporation, and three other South Korean companies are set to hold up to 30 percent in each of the areas.

Drilling is scheduled to begin in the second-half of the year. Completion of exploration is expected February 2018.

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