(Bloomberg) -- South Korea is conducting an investor roadshow after global oil majors showed interest in an offshore field that’s sparked excitement and skepticism in the Asian nation.
Korea National Oil Corp. has launched the roadshow and in August will begin scouting banks to provide any necessary financing for deals, Lee Hohyeon, the nation’s deputy minister for energy policy, told reporters at a media briefing Tuesday.
The roadshow is the latest development since President Yoon Suk Yeol in June announced that the energy-needy nation discovered a massive deposit of about 14 billion barrels of oil equivalent off its coast. The announcement sent shares of local energy companies soaring, although skepticism around the field’s viability has helped erode some of those gains.
Lee didn’t disclose the identities of any firms interested in the find because talks are private. Saudi Arabian Oil Co. and Italy’s Eni SpA have shown interest and KNOC officials plan to visit both companies’ headquarters, JoongAng Ilbo newspaper reported Monday, citing people that it didn’t identify. Representatives for Aramco and Eni weren’t immediately available for comment.
--With assistance from Alberto Brambilla.
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