US company identifies large oil reserves off South Korea's coast, with exploratory drilling underway.

US geoscience company Act-Geo has identified 14 potential oil and gas reserves in South Korea's East Sea, with deposits ranging from 680 million to 5.17 billion barrels. The largest, Goblin Shark, could hold up to 1.29 billion barrels. South Korea began exploratory drilling in December at the Blue Whale prospect and plans to release results by May or June.

2 months ago
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