S.Korea's KNOC Says Considering Selling 'Non-Core Parts' of Harvest


SEOUL, Sept 24 (Reuters) - State-run Korea National Oil Corporation (KNOC) is considering selling only "non-core parts" of Harvest Operations Corp, its wholly-owned Canada-based subsidiary, and has received interest in them from a few buyers, a senior executive said on Tuesday.

"We are considering selling only non-core assets of Harvest," KNOC Senior Executive Vice President Joong-hyun Kim told reporters.

South Korean media, citing KNOC chief executive Suh Moon-kyu as telling reporters, had said earlier in September that KNOC plans to sell Harvest Operations.

"Not only Harvest, we are currently re-evaluating all of our overseas assets including Dana and could sell non-core parts of those, not to scale down our size but to reinforce our business, although nothing has been decided," he said, referring to UK-based Dana Petroleum that it acquired in 2010.

KNOC bought the Canadian oil and gas trust Harvest for $1.7 billion in 2009.

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Manager, Probabilistic Risk Analysis Job
Expertise: Business Development|Research & Development|Technical Manager
Location: Minneapolis, MN
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: West Sacramento, CA
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Denver, CO
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours