Multiple foreign companies submit bid for Korea's deep-sea gas project: KNOC

At least two foreign companies have participated in a bid for Korea's deep-sea gas field development project, the Korea National Oil Corp. (KNOC) said Sunday. The KNOC issued a bid invitation for the project in March, allowing interested parties to apply for acquisition of up to a 49 percent stake in the project to become a partner of KNOC, which will have a majority stake in the project. The KNOC said multiple companies submitted a bid for the project, but did not disclose details of the firms, citing the need to "fairly" evaluate the bidders. The KNOC plans to select a preferred bidder among the applicants after reviewing their proposals through S&P Global. Meanwhile, the KNOC said it has concluded through an in-depth analysis on data from the first exploratory drilling into one of the seven potential oil and gas reserves in the deep sea off the coast of Yeongil Bay in Pohang, about 270 kilometers southeast of Seoul, that the so-called Blue Whale prospect does not have economic feasibility. The Blue Whale prospect was found to have a fine geological system of sandstone layers and a capWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times