Gov't to Seek Further Oil Exploration in East Sea

Write : 2017-04-28 15:45:29 Update : 2017-04-28 15:59:20

Gov't to Seek Further Oil Exploration in East Sea

The government says it will carry out further offshore drilling and oil explorations in the East Sea within this year.
Minister of Trade, Industry and Energy Joo Hyung-hwan revealed the plan on Friday when he visited a gas field in the East Sea. Joo is the first incumbent minister to visit a gas field since the development of such fields began in 2004.
The ministry plans to renew exploration licenses for Exploration Blocks 8 and 6-1 in the East Sea.
The Korea National Oil Corporation and Australian firm Woodside explored the two blocks between 2007 and 2016 and found a promising area where oil could be found.

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