KNOC Company News
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Offshore Gabon Contract Goes to Maersk Drilling
Monday, April 19, 2021PCGUSA has awarded Maersk Drilling an ultra-deepwater exploration contract in Gabon. PHOTO SOURCE: Maersk Drilling
Korean Firm Hires Drillship for One Well
Tuesday, February 09, 2021The Maersk Viking is expected to commence the contract in June. PHOTO SOURCE: Maersk Drilling
S.Korea's KNOC Says Drops Oil Field Project in Iraq's Sangaw South
Monday, August 22, 2016State-owned Korea National Oil Corp (KNOC) has decided to drop out of Iraq's Sangaw South oil field project because of uneconomic exploration results, a KNOC spokesman said.
S.Korea's KNOC In Talks With Kazakhstan To Drop Oil Field Project
Friday, August 05, 2016State-owned Korea National Oil Corp. (KNOC) is in talks with the Kazakhstan government to pull out of an oil field project due to disappointing exploration results, a KNOC spokesman says.
S.Korea to Focus on Exploration as Cuts Overseas Energy Spend
Wednesday, December 04, 2013South Korea's state-owned energy firms will focus on exploration as the import-reliant nation cuts back its total spending on overseas energy and resources development, a senior energy ministry official says.
South Korea Reviews Overseas Energy Asset Holdings
Tuesday, November 05, 2013South Korea's state-owned energy companies have embarked on a review of their holdings of foreign oil and gas assets in a bid to improve their current financial situations.
Canada's Harvest Drilling Finds 5.9M Barrels Oil Reserves - KNOC
Sunday, September 29, 2013Korea National Oil Corporation finds 'at least 5.9 million barrels of crude oil' in northwest Canada.
S.Korea's KNOC Says Considering Selling 'Non-Core Parts' of Harvest
Tuesday, September 24, 2013Korea National Oil Corporation 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.
BNG Negotiations Continue for Roxi, KNOC
Wednesday, October 31, 2012Roxi announces that representatives from the existing participants in the BNG license and KNOC have agreed well locations and secured a rig to commence drilling in December 2012.
Roxi Sells Stake in BNG Project
Tuesday, March 20, 2012Roxi announced that Bakmura, a subsidiary of KNOC, has agreed to invest in the BNG Contract Area work program in return for a 35% interest in the BNG Contract Area license.
Sources: KNOC A Partner in El Paso E&P Acquisition
Monday, March 19, 2012The Korea National Oil Corporation is a part of the group that has agreed to pay $7.15B for El Paso Corp.'s E&P business, according to people familiar with the matter.
KNOC Bids High to Extend Tx. Shale Footprint
Monday, March 21, 2011Anadarko has signed a JV agreement with KNOC, whereby KNOC will earn approx. 1/3 of Anadarko's interest in the Maverick Basin assets for $1.55B.
ADNOC, KNOC to Explore Undeveloped Abu Dhabi Blocks
Tuesday, March 15, 2011ADNOC and KNOC have signed an agreement related to the further exploration and potential development of three undeveloped blocks held by ADNOC and believed to have more than 500 million barrels of oil in place.
KNOC Subsidiary Gathers Canadian Assets From Hunt
Wednesday, December 15, 2010Harvest Operations Corp. and Hunt Oil Company of Dallas, Texas, are pleased to announce they have signed a definitive agreement for Harvest Operations Corp. to acquire producing and undeveloped assets from Hunt Oil Company of Canada (HOCC), Inc.
Dana CEO to Step Down following KNOC Acquisition
Wednesday, October 20, 2010Dana reported that Mr. Tom Cross, Chief Executive Officer of the Company, has tendered his resignation.
KNOC Declares Dana Offer Unconditional
Friday, September 24, 2010KNOC said it controls a majority stake in Dana and declared its 1800 pence-a-share takeover offer for the co. wholly unconditional.
Dana Says KNOC Offer Undervalues Company
Wednesday, September 08, 2010Shares in Dana held their position marginally above a hostile bid by KNOC after Dana said the offer significantly undervalues the company.
KNOC Makes $2.9B Hostile Bid for Dana
Friday, August 20, 2010Korea National Oil has secured support from investors for 48.62% of Dana's shares and is taking its bid directly to Dana shareholders.
Harvest's Securityholders Approve Acquisition by KNOC
Tuesday, December 15, 2009Voting securityholders were 90.5% in favor of KNOC Canada's acquisition of all the issued and outstanding trust units of Harvest Energy Trust's shares.
KNOC to Make $3.95B Bid for Canadian Oil Firm
Thursday, October 22, 2009Korea National Oil Corp. will buy Canada-based Harvest Energy Trust for $3.95 billion, in the largest acquisition of a foreign oil firm by a South Korean company.
KNOC, Woodside Plan to Drill East Sea Oil Blocks in 2011
Thursday, August 13, 2009KNOC and Australia's Woodside Petroleum plan to conduct exploratory drilling in Block 8 and the northern part of Block 6-1 in the East Sea in early 2011.
KNOC, AGR Drilling Services to Provide RMR Services Off Sakhalin
Monday, June 29, 2009KNOC and AGR Drilling Services have entered into a contract for RMR services. Drilling will be undertaken off Sakhalin Island later 2009 and in 2010.
KNOC Loses Race for Addax, But Has Edge on China Peers
Thursday, June 25, 2009KNOC's reluctance to match Sinopec's bid for Addax may reflect a major advantage over its Chinese rival: the possibility of looking for acquisitions in the U.S.
Korean Firms Test Water Offshore China
Thursday, June 04, 2009Majuko Group's purchase of a stake in an oil block near Hong Kong could pave the way for more deals offshore China by Korean firms.
Derrick's Study Shows $20B of O&G Deals Currently on the Market
Thursday, May 28, 2009Derrick has completed a comprehensive study of the Top 1000 global oil and gas companies and identified in excess of $20 billion of O&G assets currently for sale worldwide, consisting of 69 separately announced transactions.
SK to Proceed with Iraqi Oil Devt Deal Despite Minister's 'Ban'
Friday, April 03, 2009South Korea expects a $3.55 billion oil development agreement signed with Iraq in February to proceed without a hitch despite the Iraqi oil minister saying that two Korean firms are banned from joining tenders in Iraq.
KNOC, Ecopetrol Jointly Acquire Peruvian Oil Co in Overseas Strategy
Friday, February 06, 2009South Korea's state-run Korea National Oil Corp. and Colombia's state-controlled Ecopetrol have jointly purchased Peru's Petro-Tech Peruana SA for $900 million.
Subsea 7, Technip to Dissolve Asia Pacific Joint Venture
Monday, February 02, 2009Subsea 7 and Technip have agreed to dissolve their Asia Pacific joint venture once all its existing projects and tendered work have been completed.
Equator Updates on Status of Offshore Nigeria Prospecting Licenses
Monday, January 26, 2009Equator has provided an update regarding the status of OPL 321 and OPL 323. The company is working with KNOC, ONGC and all LCV partners to ensure that the preparation for drilling operations continues.
South Korea Cos Mull Barter of Drill Ships for Oil Deals with Brazil
Wednesday, January 07, 2009Brazil has proposed that South Korean shipbuilders exchange drill ships or FPSO platforms for a stake in the country's Santos oil fields.
PSN Secures Major Contract Extension for KNOC's Vietnam Gas Fields
Tuesday, November 04, 2008PSN has secured a four year, multi-million US dollar contract extension to provide Operation and Maintenance Services on KNOC's Rong Doi and Rong Doi Tay Gas Field Development Project in Vietnam.
Total, KNOC Ink Deal for Onshore Yemen Farm-In
Friday, October 17, 2008Total has signed an agreement with KNOC to farm-in to onshore exploration Block 70 in Yemen with an interest of 30.875%.
KRG, KNOC Ink Exploration, Drilling Agreements for Kurdistan Region
Monday, September 29, 2008The KRG Prime Minister signed a series of ground-breaking agreements with the Korean National Oil Co., which finalize a set of preliminary agreements for KNOC to explore and drill on several sites in the Kurdistan Region.
KNOC Underscores Decrease in Korea's Crude Oil Imports
Monday, August 25, 2008KNOC noted that crude oil imports in the 1st half 2008 were 434.1 million barrels, a 1.2 percent decrease compared with the same period last year, owing to the domestic consumption decrease by record high oil prices.
KRG Nominates Korean Company for Interest in Sangaw North Block
Wednesday, June 25, 2008Sterling and the KRG of Iraq have announced that the KNOC has been nominated to receive the Third Party Interest allocation of 20% in the Sangaw North Block.
KNOC Awarded 2 Contracts from KRG, Plans to Invest in Region
Wednesday, June 25, 2008KRG has awarded two production sharing contracts to KNOC, who has agreed to allocate some of its income to support a large program of infrastructure and capacity-building in the Kurdistan Region.
KNOC-Led Group Acquires Stake in Zhambyl Block
Thursday, May 15, 2008A South Korean consortium led by the state-owned Korea National Oil Corp. has signed a final contract to acquire a 27% stake in Kazakhstan's offshore Zhambyl oil block for $85 million.
Rosneft Preps to Drill 2 Wells Offshore at West Kamchatka
Wednesday, April 23, 2008Rosneft has big plans for the summer. The Russian oil big-leaguer wants to drill two wells offshore at its block in West Kamchatka.
IMV to Provide FEED for KNOC in Northern Alberta, Canada
Thursday, March 27, 2008IMV Projects has been awarded a C$4.5 million contract by KNOC to provide FEED services for their 10,000 BOPD BlackGold steam-assisted gravity drainage (SAGD) facility to be built in Northern Alberta.
KNOC and Samsung Enter GOM, Courtesy of Taylor Energy
Friday, February 01, 2008This acquisition represents the first large, operated acquisition of producing oil and gas properties by KNOC and Samsung in North America.
KNOC Awards Petrofac’s SPD with Long-Term Global Contract
Thursday, December 20, 2007SPD has been awarded a long-term global contract by the Korea National Oil Corporation for the provision of drilling management support services.
KNOC, Other South Korean Cos to Jointly Develop Canada Oil Sands
Friday, March 16, 2007State-run Korea National Oil Corp. said Friday it has signed an initial agreement with 13 other South Korean companies to jointly develop blocks in Canada's oil sands.
Korea National Oil Eyes Suriname Oil Sector
Thursday, February 22, 2007KNOC is interested in exploring potential oil fields in Suriname, Caribbean Net News quoted Han Byong-gil, Central and South American affairs director at South Korea's foreign affairs ministry, as saying.
Woodside Acquires Stake in Korean Block
Monday, February 12, 2007Woodside Energy (Korea) Pte Ltd has agreed with the Korea National Oil Corporation and the Government of the Republic of Korea to acquire 50% equity in a concession over a deep-water, frontier exploration block offshore the Republic of Korea.
Fred Olsen and KNOC Terminate Drillship Deal
Monday, February 05, 2007Fred Olsen Energy and KNOC have decided not to pursue the construction of a jointly-owned ultra deepwater drillship.
Lukoil: Two Aral Project Deals Signed
Thursday, December 28, 2006On Thursday the members of the consortium of investors signed a Joint Operating Agreement and the Single Operator Agreement in order to implement the Production Sharing Agreement (PSA) concerning the Uzbek sector of the Aral Sea.
South Korea's KNOC May Buy 1-2 Oil Fields Next Year
Tuesday, December 26, 2006State-owned Korea National Oil Corp. is seeking to buy one or two oil fields next year, possibly in the Caspian Sea region, a top KNOC official said Friday.
South Korea, Woodside May Jointly Explore for Oil, Gas in '07
Tuesday, November 07, 2006South Korea and Australia's Woodside Petroleum may start jointly exploring for oil and gas offshore the Korean peninsula next year, South Korea's Vice Minister for Energy Won-Gul Lee said Tuesday.
Fred Olsen and KNOC in Deal for Newbuild Drillship
Tuesday, October 31, 2006Fred Olsen and KNOC have entered into an agreement to jointly own a new-build ultra deepwater drillship.
Santos Reports Record Quarterly Production
Thursday, October 26, 2006Santos reported its highest ever quarterly production of 16.6 million barrels of oil equivalent (mmboe), placing the Company on track to achieve its annual production guidance of a record 60 to 61 mmboe for the full year.