|
|
Article: South Korea: Korea Steps Up Efforts to Explore, Develop Oil, Gas Overseas.
- Article from:
- TendersInfo
- Article date:
- August 26, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: manish03
The Korea National Oil Corp. (KNOC) will renew its effort to explore gas and oil overseas. It comes at a time when its efforts to expand through mergers and acquisitions didn't pan out.
A KNOC-led Korean consortium will commence drilling the Bazian oil blocks in northern Iraq, located in the largely autonomous Kurdistan region, in October, the Ministry of Knowledge Economy said Monday.
With Korean firms owning a 100-percent stake of the blocks, expectations are on the rise, as Heritage Oil, a Canadian-based oil developer, has recently announced the deposits are up to 4.2 billion barrels in its Miran West fields. The oil fields ...