This photo provided by the Korea National Oil Corp. shows the Donghae-1 gas field.
SEOUL, July 14 (Korea Bizwire) — South Korea’s state-run oil company has initiated a project to capture and confine carbon dioxide within the depleted gas field in the East Sea.
The Korea National Oil Corp. (KNOC) said Thursday it has signed a preliminary FEED (front end engineering and design) contract with Hyundai Engineering & Construction Co. to undertake the Donghae-1 gas field carbon dioxide capture and storage (CCS) demonstration project.
CCS refers to a method of capturing carbon dioxide emissions from industrial facilities and storing them permanently underground, a key technology to achieve the carbon neutrality goal.
In this pioneering project in South Korea aimed at commercializing CCS, some 1.2 million tons of carbon dioxide will be injected into the depleted Donghae gas field annually.
The project is scheduled to be implemented from 2025 to 2030.
The preliminary feasibility study for the demonstration project will commence at the end of this month. The KNOC will collaborate with Hyundai E&C to oversee the project, starting from the stage of preliminary basic design.
The Donghae-1 gas field is situated 58 kilometers southeast of Ulsan. It was discovered in 1997 and served as the nation’s sole fossil fuel production facility.
Natural gas production commenced in 2004 and concluded on December 31, 2021.
Kevin Lee (kevinlee@koreabizwire.com)
