SEOUL, Dec. 20 (Korea Bizwire) – A drillship participating in a major resource exploration project in the East Sea began its first drilling operation early Friday, the state-run oil company said, marking the full-fledged start of the search for an estimated 3.5 billion to 14 billion barrels of oil and gas. The announcement followed the [...]
SEJONG, Dec. 17 (Korea Bizwire) — A drillship participating in a major gas and oil development project in the East Sea arrived at its first drilling site Tuesday, as it prepares to begin exploration operations amid growing uncertainties in the project due to domestic political situations, according to industry sources. The West Capella, operated by [...]
SEOUL, Sept. 25 (Korea Bizwire) — Preparations have been under way for the first exploratory drilling in December for potential oil and gas reserves off the nation’s East Sea, officials said Wednesday. Industry Minister Ahn Duk-geun hosted a meeting with related agencies in Seoul to review the progress of preparations for a project in the [...]
SEOUL, Jun. 14 (Korea Bizwire) – An analysis by the American consulting firm Act-Geo of seismic data from a deep-water energy exploration project in the East Sea has sparked controversy, with questions emerging about the verification process and accuracy of claims made by the firm’s adviser. Vitor Abreu, an adviser to Act-Geo, which was hired to [...]
SEOUL, Jun. 14 (Korea Bizwire) — South Korea is ready to work with foreign partners to develop potential oil and gas reserves in the East Sea, the chief of the state-run Korea National Oil Corp. (KNOC) said Friday. Earlier this month, the government announced that it has found potential oil reserves in the East Sea, [...]
SEJONG, Jun. 7 (Korea Bizwire) — A potential discovery of oil and gas reserves off South Korea’s East Sea is “highly prospective,” Vitor Abreu, the owner of the U.S. geoscience research company Act-Geo behind the project, said Friday, citing the presence of hydrocarbons in the offshore fields. “So to summarize … the basin is highly [...]
SEOUL, Jun. 4 (Korea Bizwire) — The owner of U.S.-based geoscience research company Act-Geo said Tuesday he was traveling to South Korea to discuss Seoul’s newly envisioned offshore oil and gas exploration project on the east coast. On Monday, President Yoon Suk Yeol said South Korea will push to embark on the project in the [...]
SEOUL, Mar. 20 (Korea Bizwire) – An 18th century Dutch map depicting the East Sea as the “Sea of Korea” will be put on public display, offering a window into how Western cartographers viewed the waters off the Korean Peninsula centuries ago. The Northeast Asian History Foundation announced on Sunday that it will exhibit an East [...]
SEOUL, Sept. 25 (Korea Bizwire) — South Korea and the United States kicked off a combined naval exercise in the East Sea on Monday to reinforce readiness against growing military threats from North Korea, the Navy said. The three-day exercise involved nine vessels and two patrol aircraft from the two sides, including two South Korean [...]
SEOUL, Oct. 12 (Korea Bizwire) — The Japanese government is stepping up to use YouTube to insist on calling the East Sea the ‘Sea of Japan.’ Japan’s Foreign Ministry posted a YouTube video titled ‘Sea of Japan – The one and only name recognized by the international community’ last month. In the video, the Foreign [...]