Trump: “Deals with South Korea are getting better”... mentions $8.4 billion oil production increase project
Enhanced oil recovery, including South Korea’s $8.4 billion investment in the U.S. announced by Trump Find out the reality of the deal that could shape U.S. energy dominance and security
U.S. President Donald Trump said that South Korea's investment projects in the U.S. include an $8.4 billion plan to increase oil production.
On the 2nd (local time), President Trump wrote on Truth Social that the deal with South Korea is getting better, and that $8.4 billion would go into a project for “enhanced oil recovery.” He emphasized that expanding oil and gas production is important for America’s energy dominance and security.
However, the specific details of the project President Trump mentioned are unclear. The investment projects in the U.S. previously announced by South Korea and the U.S. included construction of a gas combinedcycle power plant in Texas, the promotion of eight nuclear reactors in the U.S., and consideration of Alaska LNG development, but an enhanced oil recovery project was not confirmed.