Blue Whale Deep-Sea Gas Prospect
Sector: Oil and Gas • Location: Pohang, North Gyeongsang Province, South Korea
Source: The Korea Times
The Blue Whale prospect is a deep-sea gas project off the coast of Yeongil Bay in Pohang, South Korea. It involved exploratory drilling to assess the economic viability of extracting gas and oil reserves. The project was initially expected to yield enough gas to meet Korea's demand for 29 years and oil demand for 4 years, with a financial value estimated at 2,200 trillion won ($1.57 trillion). How
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Participants
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Status
Original status | cancelled |
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Taiyo last update | 00-00-0000 |
Available timestamps | 00-00-0000 |
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Contact
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Description
Description | The Blue Whale prospect is a deep-sea gas project off the coast of Yeongil Bay in Pohang, South Korea. It involved exploratory drilling to assess the economic viability of extracting gas and oil reserves. The project was initially expected to yield enough gas to meet Korea's demand for 29 years and oil demand for 4 years, with a financial value estimated at 2,200 trillion won ($1.57 trillion). However, after detailed analysis, no recoverable gas was found, and the prospect was deemed uneconomical for development. No further exploration is planned, but Korea National Oil Corp. (KNOC) is seeking foreign investment for other deep-sea gas field prospects in the East Sea. |
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Original Currency | USD |
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Location
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Source
Source reliability | High |
Data quality score | 100% |
Source | Obfuscated Data |
URL | obfuscated_data,obfuscateddata.com |
More Details
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