SEOUL, Feb. 15 (UPI) -- Media reports from Seoul say Iraq's Kurds have signed deals for oil and other projects with a South Korea consortium, but details are sketchy.
If so, the move would heighten current tensions between the Kurdistan Regional Government and Iraq's central government, and mark a departure from the previous 20 controversial oil deals that were announced with fanfare by the KRG itself.
The Korea Times reports the Korean National Oil Corp. was granted rights to oil fields in the three provinces in Iraq's north that make up the KRG. It also reported a consortium led by Ssangyong Engineering & Construction, Doosan Construction & Engineering and Kukdong Engineering & Construction was awarded a $10.5 billion package to build roads, power plants and other "social infrastructure."
It was announced as KRG Prime Minister Nechirvan Barzani led a delegation to South Korea and held meetings that included with President-elect Lee Myung-bak.
It's not clear whether this is a new deal or just a reaffirmation of an exploration and production-sharing contract announced by KRG Natural Resources Minister Ashti Hawrami in November. A KNOC-led consortium of South Korean companies was awarded that contract. The Korea Times twice mentioned it as a new deal.
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