Korea National Oil Corp. Company News

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KNOC Contracts Land Rig 'KS Discoverer 1' for Drilling in Kurdistan
Wednesday, March 18, 2015KS Energy's onshore rig KS Discoverer 1 secures contract from Korea National Oil Corp. to drill in Kurdistan, Iraq.

KNOC Seeking to Invest in US Shale Gas
Wednesday, July 11, 2012Korea National Oil Corp. seeks to invest in US shale gas projects with an annual output around 3 million-3.5 million metric tons, together with Korea Gas Corp.

DSME Secures Rig Order for Kazakh Oil Search
Friday, April 16, 2010DSME recently won a new order for an inland barge from a South Korean consortium led by the state-run Korea National Oil Corporation.

Korea Firms to Boost Overseas Spending
Tuesday, January 19, 2010South Korea plans to nearly double investments in overseas resources, including oil assets, to boost the country's energy self-sufficiency.

Iraq's Oil Minister Bans South Korean Firms from Iraqi Tenders
Thursday, April 02, 2009Iraq's oil minister penalized two South Korean oil firms Thursday, banning them from taking part in Iraqi tenders after they signed a billion-dollar contract with the Kurd regional government.

Yellow Lion Field Fires Up Production Offshore Vietnam
Monday, October 27, 2008CLJOC has commenced oil production from the Su Tu Vang (Yellow Lion) field located in Block 15-1 offshore Vietnam.

KNOC Signs Pact with KRG on 8 Iraq Oil E&P Projects
Thursday, September 25, 2008State-run Korea National Oil Corp. said Thursday it signed a final contract with the Kurdish Regional Government on exploration and production sharing for eight oil blocks in northern Iraq.

South Korea Aims to Triple KNOC Assets by 2012
Thursday, June 12, 2008South Korea unveiled a plan to beef up the competitiveness of state-run Korea National Oil Corp. by sharply boosting its oil and gas production and assets through injections of state funds and acquisitions of producing fields and oil companies.

KNOC Selects AGR's RMR for Drilling Challenges in Eastern Russia
Thursday, March 20, 2008KNOC selected the RMR based on its enabling zero discharge capability.

South Korean Oil Cos. Make Move on Gulf of Mexico
Thursday, February 28, 2008Drilling is scheduled to begin in the second-half of the year. Completion of exploration is expected February 2018.

Tullow Sells Congo Interest to Korea National Oil Company
Thursday, January 31, 2008Tullow Oil plc reported the sale of its 11% interest in the onshore M'Boundi field in Congo (Brazzaville) to the Korea National Oil Company (KNOC) for a total cash consideration of $435 million.

Kurdistan Signs Five More Petroleum Contracts
Monday, November 12, 2007The Kurdistan Regional Government has signed five more production sharing contracts. These deals come after a string of recent PSCs announced last week.

South Korea, Iraq Sign Memo to Jointly Develop Oil, Gas Projects
Thursday, April 12, 2007South Korea and Iraq have signed an initial agreement to jointly develop crude oil and natural gas projects, Korea's Ministry of Commerce, Industry and Energy said Thursday.

Nigeria Minister: Defaulting Block Winners to Lose Rights
Thursday, February 09, 2006Winners of oil blocks during Nigeria's 2005 licensing round who failed to pay their signature bonuses by the end of last year will have their blocks withdrawn.

Nexus Plugs Culverin-1 Well
Monday, January 09, 2006Nexus Energy says the Culverin-1 reached a total depth of 3758 meters below rotary table. Hydrocarbon shows were encountered in the well within a sand interval between 3604 and 3609 meters.

Nexus Energy Says First Culverin Objective Dry
Wednesday, December 28, 2005Nexus Energy says the Culverin-1 well is drilling ahead. The well has intersected the upper reservoir target level which is the Culverin prospect and no indications of hydrocarbons have been detected.

The Peak Group Wins Its First Contract from KNOC
Wednesday, October 19, 2005The Peak Group has secured its first contract with the Korea National Oil Corp (KNOC) for an exploration well offshore Benin, West Africa.

Joint Venture Established for Exploration in the Uzbek Part of the Aral Sea
Friday, September 09, 2005An agreement has been made between Uzbekneftegas, LUKOIL Overseas, Petronas Carigali Overseas, Korea National Oil Corporation (Republic of Korea) and CNPC International for a production sharing agreement for exploration and production of oil and gas fields in the Uzbek part of the Aral Sea.

Woodside & Korea National Oil Corp Sign Joint Study Deal
Friday, March 18, 2005Woodside Energy and Korea National Oil Corporation have signed a joint study agreement to review the hydrocarbon potential of the Ulleung Basin, off the east coast of the Republic of Korea.

HHI Wins Gas Production Facilities from KNOC
Tuesday, December 28, 2004Hyundai Heavy Industries won a US$150 million contract to supply gas production facilities for Korea National Oil Corporation (KNOC)'s Rong Doi Tay Gas Field Development Project in Vietnam.

KNOC Prepared to Pay $250 Mln on Russian Exploration
Thursday, October 28, 2004Korea National Oil Corp. is prepared to invest $250 million to explore two prospective areas of oil and gas reserves off Russia's far east coast, carrying the costs of project partner OAO Rosneft, a senior KNOC manager said Thursday.

Rosneft and KNOC Team Up in Russian Far East
Tuesday, September 21, 2004Rosneft Oil Company and Korea National Oil Corporation signed a memorandum of understanding in Moscow on September 21 regarding joint development of the Veninsky block (Sakhalin-3 project) and a segment of the West Kamchatka shelf in the Sea of Okhotsk.

PetroVietnam Partners with KNOC in Block 11-2
Thursday, April 22, 2004PetroVietnam will take a 25% stake in a joint venture with Korea National Oil Corp. which will be set up to produce oil and gas in an field located offshore Vietnam

Eni Commences Production form Elephant Field in Libya
Friday, February 13, 2004Eni announces the production start up from Elephant, an important oil field located 800 kilometers south of Tripoli, in Libya.

Production from Su Tu Den Field Reaches 70,000 bpd
Thursday, February 12, 2004Production from Vietnam's newest oilfield, Su Tu Den or Black Lion, has reached an average 70,000 barrels per day (bpd) in 2004 from 60,000 bpd last year when it first came onstream.

Korean Majors Farm-in to Amity's Whicher Range Field
Thursday, May 08, 2003Amity Oil and it's partner GeoPetro Resources have entered into a major farm-in agreement with Korea National Oil Corporation and Seoul City Gas Company Ltd that will see the two Korean companies commit up to $6.7 million for exploration of the Whicher Range Gas field.