Iraq: Talabani, Shahrastani and business deal with South Koreanote

Iraqi President Jalal Talabani signed a $3.33bn business deal with his South Korean counterpart Lee Myung-Bak on 24/2/09 in Seoul. The deal, which provides South Korean companies the possibility of investing in oil projects in southern Iraq, has drawn a reaction from Iraqi Oil Minister Hussein Al-Shahrastani. The following 306-word report focuses on the issue and tells what Al-Shahrastani’s reaction is. It also tells what the position in Baghdad towards cooperation with South Korean companies. Note that the most active South Korean companies in Iraq incliude SK Energy, Korea National Oil Corp (KNOC) and Korea Gas Corporation (Kogas).