[Featured Stock] POSCO Inter, 5 Key Companies Interested in Donghae Oil Field Development... Participation Likely Increased

POSCO International is showing strong performance.

As of 9:43 AM on the 21st, POSCO International is trading at 66,800 KRW, up 6.03% from the previous day.

Daishin Securities has raised the target price for POSCO International, a trading company, from 68,000 KRW to 76,000 KRW, reflecting the government's plan for oil and gas exploration in Pohang Yeongilman.

Researcher Lee Taehwan stated, "POSCO International is the most proven domestic company in offshore upstream (the production sector in the oil industry) development capabilities," adding, "Along with its past exploration and development history of the Donghae 1 and 2 gas fields, it is a company that fully possesses experience in exploration, development, production, and sales of offshore gas fields beyond simple equity investments."

POSCO International previously obtained exploration rights for gas fields from the Myanmar government, succeeded in exploration, signed a Production Sharing Contract (PSC), and also has experience in signing long-term sales contracts for 30 years.

Lee said, "It is a currently active player with additional production at the Myanmar gas field and secured operating rights for blocks in Malaysia and Indonesia, preparing for new exploration," and assessed that "there is a high possibility of participation assuming the realization of gas field development."

Earlier, Kim Dongseop, President of Korea National Oil Corporation, stated at a briefing held at the Government Sejong Complex in Sejong City on the afternoon of the 19th, "Even before sending the project briefing document for the (Donghae deep-sea gas field) project, five global major oil companies have expressed interest." Kim added, "The companies showing investment intentions are well-known once mentioned," and said, "We plan to hold a roadshow (project briefing) soon."