South Korean President Yoon Suk Yeol approved a plan to develop an offshore oil and gas discovery, potentially containing large reserves.
South Korean President Yoon Suk Yeol approved a plan to develop a major oil and gas discovery off the country's southeastern coast, prompting a surge in shares of Korea's oil and gas companies. The potential reserve, with a "very high" probability of containing 14 billion barrels of oil and gas, could meet South Korea's gas demands for 29 years and oil demands for four years. Exploration drilling is set to begin in late 2022, with initial findings expected by mid-2023.
June 03, 2024
13 Articles