Korea bets big on gas, oil prospects in East Sea
IndustryJun 3, 2024
South Korea has approved a large-scale project to carry out exploration drilling of potentially massive gas and oil reserves, which could hold up to 14 billion barrels of gas and oil in the deep sea off the country’s southeastern coast, President Yoon Suk Yeol announced Monday. Yoon highlighted that the maximum amount of buried gas and oil would be enough for the country to use for 29 years and four years, respectively. He said the government entrusted Act-Geo, a top global deep-sea techno