* KOGAS may sell 49 pct of Akkas gas field -Yonhap
* KEPCO eyeing stake sales in Australia Bylong and other
* KNOC to raise $3.7 bln by 2017 via asset sales
(Recasts and writes throughout with new details of sales)
By Meeyoung Cho
SEOUL, Feb 6 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.
All three have submitted plans to the government to dispose
of assets and are currently awaiting approval, the sources said.
They declined to be identified as the plans were not meant to be
KOGAS is considering selling 49 percent of its fully owned
Akkas gas field in Iraq for 309 billion won ($287 million)
although it intends to retain operating control, local media
A source at the company said that selling part of its
holdings in the gas field was possible. KOGAS, the world's top
corporate buyer of liquefied natural gas, signed a deal in 2011
to develop the Akkas gas field in the western province of Anbar,
Iraq's largest with reserves of 5.6 trillion cubic feet.
KEPCO may sell a stake in its fully owned Bylong thermal
coal fields in Australia, and part or all of its 9.45 percent
stake in Canadian uranium firm Denison Mines, a company source
According to a government statement released on Sunday,
KEPCO wants to raise 1.5 trillion won through asset sales by
2017. Further details were not immediately available.
KNOC is aiming to raise $2.4 billion by 2017, after raising
$1.3 billion by restructuring some of its overseas assets
including the sale of some assets owned by its Canadian energy
unit Harvest Operations, a company source said.
Asia's fourth-largest economy imports almost all of its oil
and gas. It rapidly expanded overseas investments between 2008
and 2012 to boost oil and gas supplies from overseas reserves in
a bid to curb inflation led by costlier energy imports.
($1 = 1077.9000 Korean won)
(Additional reporting by Jane Chung and Se Young Lee; Editing
by Himani Sarkar and Edwina Gibbs)