Act-Geo founder Dr. Abreu to visit Korea for press conference

Dr. Vitor Abreu, the founder of the U.S. company Act-Geo, which analyzed the potential for oil and gas deposits in the Yeongil Bay area of Pohang, North Gyeongsang Province, is set to hold a press conference in South Korea as early as on Wednesday. This move comes in response to various controversies after the government's announcement, with Abreu aiming to address and clarify these issues.

According to a government official, Dr. Abreu is expected to hold the press conference with the Korea National Oil Corporation (KNOC) on Wednesday. "I have signed a confidentiality agreement with the KNOC and cannot answer technical questions," Dr. Abreu said in an interview with The Dong-A Ilbo. "I will discuss with the KNOC management to address several questions about the potential for oil deposits this week."

Last year, the KNOC entrusted Dr. Abreu with the analysis of deep-sea exploration data from the East Sea. A government official described Dr. Abreu as an authority in resource geophysical exploration interpretation, who has worked as a senior-level technician for the major oil company ExxonMobil for many years.

On the same day, it was revealed that Act-Geo's headquarters is registered as a residential property in the U.S., sparking controversy over it being a 'one-man company.' The headquarters is listed as a $7,000 monthly residential rental on a U.S. real estate transaction website. According to the business social media site LinkedIn, Dr. Abreu served as CEO of Act-Geo from August 2015 until November last year before leaving the company. Since May last year, he has been the co-founder and Chief Technology Officer (CTO) of Fluxus OGE, an energy company based in Brazil.


신아형 abro@donga.com