US President Donald Trump announced on Friday an $8.4 billion enhanced oil recovery project under the United States’ deal with South Korea, saying the initiative would support American energy production.
“I am thrilled to announce the Republic of Korea Deal keeps getting BETTER! 8.4 Billion Dollars for an enhanced Oil Recovery Project,” the president said on Truth Social.
Trump did not identify the project’s location, participating companies, or financing arrangements. The announcement follows the framework outlining an expected $200 billion in investment in liquefied natural gas and nuclear energy projects.