Koreans eye billions in Gulf deals

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South Korea’s biggest industrial contractors have set their sights on billions of dollars worth of oil and gas business in the Gulf this year, their executives say.

Key contracts up for grabs include a natural gas project and chemical plant in Abu Dhabi and new refineries in Saudi Arabia.

Contractors have been drawn to a flood of energy investment in the region as opportunities in East Asia and other areas decline, said HP Kong, the executive vice president and head of marketing at Samsung Engineering.