The owner of the company that found there is a possibility of a large oil and gas reserve off the coast of Pohang is currently in South Korea meetings:
The owner of the U.S.-based geoscience research company Act-Geo, which took part in South Korea’s project for potential offshore oil and gas reserves, arrived in the nation Wednesday for meetings with government officials.
Vitor Abreu, the owner of the Houston, Texas-based research firm, arrived at Incheon International Airport, west of Seoul, noting his visit was aimed at following up with the state-run Korea National Oil Corp. (KNOC) on the potential discovery of up to 14 billion barrels of gas and oil.
“I came here to discuss with the KNOC what’s the best way for us to approach this and actually to give a better or more clear response for the Korean people in this very, very important project,” Abreu told reporters upon his arrival.
Abreu refrained from offering more details on the project, citing a “confidentiality agreement” with the state-run firm.
Yonhap
Here is how the article responded to claims from critics about the creditability of Abreu’s company:
The government commissioned Act-Geo to conduct a study in February last year, which reported that the deposits could hold between 3.5 billion and 14 billion barrels of gas and oil.
Meanwhile, there have been rising questions surrounding the credibility of the firm, with some claiming that the address of the company headquarters was that of a residential house in suburban Houston.
In response, the KNOC said Abreu was a veteran of 30 years in the field of deep-sea exploration and previously served as the head of the geology division at ExxonMobil and the president of the American Association of Petroleum Geologists.
The company also said that during his days at ExxonMobil, Abreu played a leading role in the exploration of the largest deep-sea oil field in Guyana, South America.
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