S. Korea firms may sell Iraq stake

SEOUL: Plans by South Korea’s state-run energy firms to sell billions of dollars of overseas assets include the possible sale of stakes in Iraq’s Akkas gas field, Australia’s Bylong thermal coal fields and Canadian uranium firm Denison Mines, company sources said.

Korea Gas Corp (KOGAS), Korea Electric Power Corp (KEPCO) and Korea National Oil Corp (KNOC) have come under heavy pressure from the country’s new government to shed assets and pay off debt by 2017.