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S KOREA TO BEGIN TEST-PRODUCTION AT EAST SEA GAS FIELD.

AsiaPulse News

| April 01, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SEOUL, April 1 Asia Pulse - South Korea will soon join oil- and gas-producing countries as its first gas field in the East Sea nears the start trial production, head of the state-run oil company said Thursday.

"(We) plan to begin test-production in the Donghae-1 gas field this weekend and commercial production in July," Korea National Oil Corp. (KNOC) President Yi Ok-su told reporters.

Since the East Sea field was discovered in July 1998, the KNOC has poured US$300 million into its development. It expects the gas field to make $78 million in net profits and help the country save $1.2 billion in oil imports.

The East Sea field, 58 ...

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Source: HighBeam Research, S KOREA TO BEGIN TEST-PRODUCTION AT EAST SEA GAS FIELD.

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