Korea National Oil Corporation, North Gyeongsang Province, and Pohang City Sign Regional Development MOU for Donghae Deep Sea Gas Field Development

Korea National Oil Corporation Establishes and Operates Pohang Field Office

Joint Cooperation for Regional Port Revitalization and New Industry Development

On the 18th, Korea National Oil Corporation (KNOC) signed a business agreement at Lahan Hotel in Pohang with President Kim Dongseop, Gyeongbuk Governor Lee Cheolwoo, and Pohang Mayor Lee Kangdeok to utilize Yeongilman Port in Pohang as a support port for the development of the Donghae deep-sea gas field and to create mutual cooperation and regional development.

Business agreement ceremony for regional development related to the development of the East Sea deep-sea gas field. (From the 5th person from the left: Lee Cheolwoo, Governor of Gyeongbuk Province; Kim Dongseop, President of Korea National Oil Corporation; Lee Gangdeok, Mayor of Pohang)

This agreement was signed to establish a mutual cooperation system for regional development between local governments and KNOC, as the Donghae deep-sea gas field development project is being actively promoted.

According to the agreement, Gyeongbuk Province, Pohang City, and KNOC plan to install and operate a KNOC Pohang field office in the region to discuss various issues related to the Donghae deep-sea gas field development project. They will also gradually implement projects such as selecting a supply base for equipment using local companies and cooperating on fostering new regional industries. These efforts aim to revitalize the local port and lay the foundation for the successful execution of the project.

President Kim Dongseop stated, "Regarding the Donghae deep-sea gas field development project, we will actively communicate with the local community to address various concerns and do our best to ensure that this project becomes a new growth engine driving the regional economy." He added, "From now on, we will focus our technical and human resources on exploration drilling and investment attraction for the future of Korea, with the principle of prioritizing national interests."