DPRK

In 2004, Aminex signed a Petroleum Co-operation Agreement with the government of the Democratic Peoples Republic of Korea (North Korea). Under this Agreement, Aminex provides technical, commercial and legal support to the government in its efforts to construct an international oil and gas exploration and production industry. In return for providing these services, Aminex enjoys the rights of first choice for the licensing of new exploration areas.

Since the 2004 Agreement was signed North Korea has been through a period of turbulent change which has had the effect of slowing down progress in the oil and gas sector. Aminex ‘s future progress in North Korea will depend on the continuation and solidification of the process of détente that has started recently, particularly between North Korea and the USA.