Korea National Oil Corporation Signs Safety Management Agreement for Marine Facility 'Buoy' with Three Refining Companies

Lee Chun-gil, Head of Oil Production Division at SK Energy (left), Park Hyun-gyu, Head of Stockpile Business Division at Korea National Oil Corporation (right).

[Asia Economy Yeongnam Reporting Headquarters, Trainee Reporter Hwang Du-yeol] Korea National Oil Corporation (KNOC) has signed a business agreement with three refining companies operating crude oil maritime loading and unloading facilities.

On the 23rd, KNOC signed a "Business Agreement on Establishing a Safety Management Cooperation System for Marine Facilities (Buoy)" with three refining companies (SK Energy, S-Oil, Hyundai Oilbank).

The signing ceremony was attended by Park Hyun-gyu, Head of the Stockpiling Business Division at KNOC, and Lee Chun-gil, Head of Petroleum Production Division at SK Energy, representing the three refining companies participating in the agreement.

The agreement ceremony was organized to strengthen cooperation among participating companies in preventing maritime accidents, as accidents during the operation of maritime loading and unloading facilities could escalate into national disasters.

A Buoy is a loading and unloading facility installed at sea to transfer crude oil between oil tankers and onshore storage facilities. KNOC has installed and operates these at the Ulsan Stockpiling Base.

In case of emergencies such as disruptions in oil supply, KNOC supplies stockpiled crude oil brought in through the Buoy to nearby refining companies like SK Energy and S-OIL to stabilize the domestic oil supply.

Park Hyun-gyu, Head of the Stockpiling Business Division at KNOC, stated, "By sharing and developing the accumulated marine facility operation technology and safety management capabilities of the participating companies, we will contribute to enhancing maritime safety management capabilities and preventing maritime accidents."