Drilling Results to Take Six Months
Interim Report Expected in May or June
The exploratory drilling operation for the East Sea blue whale structure has been completed. The drilling results are expected to be released in six months, with an interim report anticipated around May to June.
Korea National Oil Corporation (President Kim Dong-seop) announced on the 6th that the exploratory drilling operation for the blue whale structure was completed on February 4th, 47 days after drilling began on December 20th last year.
The Oil Corporation explained that the drilling operation was completed according to the originally planned schedule. The drilling vessel West Capella departed the drilling site on the 4th, arrived at Busan Port, completed departure procedures, and left on the 5th.
The Oil Corporation plans to send the logging data and samples collected during the drilling process to specialized contractors for detailed analysis and testing. It is expected to take approximately six months until the final results are available.
However, as soon as reliable results are derived during the analysis process, an interim report is planned to be announced around May to June. The Oil Corporation is currently conducting a bidding process to select specialized contractors targeting leading global companies and plans to sign contracts within this month.
An official from the Oil Corporation stated, “We are preparing preliminary procedures to ensure that the investment attraction process for global companies with the capital, technology, and experience necessary for deep-sea development proceeds in earnest,” adding, “The investment bidding announcement is scheduled to be promoted by the end of March at the latest.”
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