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 [...]
SEOUL, March. 11 (Korea Bizwire) — SK E&S Co., the energy unit of South Korean conglomerate SK Group, has taken its first step in a carbon capture and storage (CCS) project that aims to transform a gas field that is soon to terminate production into a carbon storage space. The company announced on Thursday that [...]
SEOUL, Nov. 18 (Korea Bizwire) — South Korea will push for a project to install the country’s first commercial-scale carbon capture storage facilities in a gas field in the East Sea as part of efforts to achieve its carbon neutrality goal, the industry ministry said Thursday. The project is meant to capture carbon dioxide from [...]
SEOUL, Nov. 1 (Korea Bizwire) – POSCO International Corp., the trading unit of South Korean steel giant POSCO, said Monday it signed an agreement with Malaysia’s state-owned oil and gas company to explore and operate a gas field in the Southeast Asian country. In August, POSCO International won an international bidding to explore and operate [...]
SEOUL, March 30 (Korea Bizwire) — SK E&S Co., the natural gas provider under SK Group, said it will invest 1.6 trillion won (US$1.4 billion won) over the next five years to develop an Australian gas field for the stable supply of liquefied natural gas (LNG). SK E&S said it approved the investment plan to [...]
SEOUL, Feb. 17 (Korea Bizwire) — POSCO International Corp., a South Korean general trading company, said Monday that it has discovered a prospective gas field off the western coast of Myanmar. A drill stem test in the Mahar exploration well in Block A-3 in December showed that the area is expected to produce about 38 [...]
SEOUL, Jun. 11 (Korea Bizwire) — Posco Group and its main subsidiary Daewoo International are battling over the sale of a gas field in Myanmar that is the main cash cow for Daewoo International. As Posco Group undertook plans to sell the gas field without consulting executive members of Daewoo International, Jeon Byeong Eal, CEO [...]