Korea National Oil Corporation

Korea National Oil Corporation
한국석유공사 *Hanguk Seogyu Gongsa*
Type	Public
Industry	Petroleum
Founded	1979
Headquarters	Ulsan, South Korea
Key people	Suh, Moon-kyu, CEO
Products	oil, gas, Oil Stockpiling Projects, Drill ship Projects, oil information
Revenue	US$ 4.1 billion (2014)^[1]
Number of employees	1,272 (2012)^[2]
Website	www.knoc.co.kr

Korea National Oil Corporation (KNOC) is the national oil and gas company of South Korea and one of the most important industrial companies in the country. The company operates oil and gas fields in Vietnam, Libya, Peru, Indonesia, Nigeria, Yemen, Kazakhstan, Russia, Canada and South Korea.

The company has oil reserves of around 600 million barrels (95,000,000 m³) ^[3] and gas reserves of 10 billion m³.

On 26 September 2008 KNOC signed a deal with the Kurdistan Regional Government where KNOC was granted rights to explore and drill on several sites in the Iraqi Kurdistan in exchange for valuable support on a range of infrastructure projects.^[4]

In 2009, the company purchased Harvest Energy Trust, along with its subsidiary North Atlantic Refining and its refinery in Come By Chance, Newfoundland and Labrador.^[3]^[5]

On 2 July 2010 KNOC confirmed preliminary discussions regarding a possible cash offer for the entire issued and to-be-issued share capital of Dana Petroleum.^[6]

Notes

↑ KNOC
↑ Edaily, Jun 12, 2008.
1 2 South Korean Oil Company Buys Canadian Producer
↑ Prime Minister Barzani signs historic oil agreements with South Korea
↑ "History of the Refinery at Come by Chance". North Atlantic Refining. Retrieved 9 August 2010.
↑ "KNOC in bid for Dana". Upstream Online (NHST Media Group). 2010-06-02. Retrieved 2010-06-02.

External links

Economy of South Korea

History	Chaebol 1997 Asian financial crisis Four Asian Tigers Five-Year Plans of South Korea Heavy-Chemical Industry Drive Miracle on the Han River

Currency	Won (1945–1953) Hwan (1953–1962) Won (1962–) Korea Minting and Security Printing Corporation Bank of Korea

Industry and business	Automotive industry Companies Energy Exports Financial services Fishing industry Markets Real estate Rice production Trade unions Korea National Oil Corporation

Government agencies	Fair Trade Commission Korea Forest Service Financial Services Commission Financial Supervisory Service Korea Deposit Insurance Corporation National Information & Credit Evaluation Korea Investment Corporation Korea Transportation Safety Authority Small and Medium Business Administration

Employment and tax	Companies

Infrastructure and transport	Trans Korea Pipeline South–North Pipeline Korea Driving license

Rankings	International rankings Regions by GDP

Finance and banking	Korea Exchange KOSDAQ KRX 100 KOSPI Banks

Free Trade Agreements	ASEAN EFTA India Peru European Union United States Australia Vietnam

Energy	National RD&D Organisation for Hydrogen and Fuel Cell Programme Nuclear power Nuclear research programs

Other	European Union Chamber of Commerce in Korea Korea Financial Investment Association Kimchi bond Korea Non-Life Insurance Association Korea Oil & Petroleum Association

See also: Economy of North Korea

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