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

Reuters

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.



WHAT DO YOU THINK?


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.


Most Popular Articles