Korea National Oil Corporation

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Korea National Oil Corporation
한국석유공사 Hanguk Seogyu Gongsa
Type Public
Industry Petroleum
Founded 1979
Headquarters Anyang, South Korea
Key people Suh, Moon-kyu, CEO
Products oil, gas, Oil Stockpiling Projects, Drill ship Projects, oil information
Revenue Increase KRW 1.1 trillion (2007)[1]
Employees 1,272 (2012)[2]
Website www.knoc.co.kr

Korea National Oil Corporation (KNOC) is the national oil and gas company of South Korea and one of the most important industrial companies in the country. The company operates oil and gas fields in Vietnam, Libya, Peru, Indonesia, Nigeria, Yemen, Kazakhstan, Russia, Canada and South Korea.

The company has oil reserves of around 600 million barrels (95,000,000 m3) [3] and gas reserves of 10 billion m3.

On 26 September 2008 KNOC signed a deal with the Kurdistan Regional Government where KNOC was granted rights to explore and drill on several sites in the Iraqi Kurdistan in exchange for valuable support on a range of infrastructure projects.[4]

In 2009, the company purchased Harvest Energy Trust, along with its subsidiary North Atlantic Refining and its refinery in Come By Chance, Newfoundland and Labrador.[5][3]

On 2 July 2010 KNOC confirmed preliminary discussions regarding a possible cash offer for the entire issued and to-be-issued share capital of Dana Petroleum.[6]

Notes[edit]

  1. ^ KNOC
  2. ^ Edaily, Jun 12, 2008.
  3. ^ a b South Korean Oil Company Buys Canadian Producer
  4. ^ Prime Minister Barzani signs historic oil agreements with South Korea
  5. ^ "History of the Refinery at Come by Chance". North Atlantic Refining. Retrieved 9 August 2010. 
  6. ^ "KNOC in bid for Dana". Upstream Online (NHST Media Group). 2010-06-02. Retrieved 2010-06-02. 

External links[edit]