Sebang is showing strength. This is interpreted as highlighting its 50% stake in Busan New Port Multipurpose Terminal, which was awarded as the port facility for the giant whale exploration drilling.
As of 1:41 PM on the 24th, Sebang is trading at 13,610 KRW, up 5.59% from the previous day.
According to the Korea National Oil Corporation's electronic procurement system, Busan New Port Multipurpose Terminal was awarded as the port facility and cargo handling service provider for the domestic 8/6-1 block northern area giant whale-1 exploration drilling. Earlier last month, the government officially mentioned the possibility of a massive amount of oil and gas deposits in the East Sea offshore.
President Yoon Suk-yeol stated in last month's national briefing, "Since 1966, our country has attempted subsea oil and gas field exploration and discovered the East Sea gas field with a scale of 45 million barrels. Around this East Sea gas field, we found the possibility of oil and gas deposits amounting to 14 billion barrels. We approved the Ministry of Trade, Industry and Energy's plan for exploration drilling in the East Sea deep-sea oil and gas field, and after preliminary preparations, the first drilling operation will begin by the end of this year, with some results expected by the first half of next year."
Meanwhile, Sebang holds a 50% stake in Busan New Port Multipurpose Terminal.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
