Korean National Oil Corporation (KNOC) was established to help the stability of national economy by securing vitality supply against crises related to oil through the key Petroleum stock piling and petroleum development. Since its beginning in 1979, Knock has developed 9 oil stockpiling bases with aggregate limit of 146 million barrels to secure the stable oil supply against crises related to oil.
With respect to the E&P, KNOC has been implementing actively oil and gas exploration, improvement and generation ventures worldwide for the stable supply of petroleum, furthermore effectively propelled the first common gas creation in Korea in 2004 at Donghae-1 gas field.
Starting 2013 KNOC operates oil and gas fields in Korea and 23 foreign countries, for example, North Sea fields and North America Shale gas fields, and produces 220 thousand barrels of oil Equivalent for every day with the stores volume of 1.3 billion barrels of oil equivalent.
Also, KNOC tries to make new included values and employments as a feature of Korea’s inventive economy extend in vitality industry by seeking after the Northeast Asia Oil Hub business that will create Korea as the core of oil exchanging, logistics and monetary transactions in Northeast Asia. KNOC has the capacity to develop what it is today on account of the trust and love gave by Korean individuals and they will try their best to turn into an company that makes social contributions, helps nearby groups and small and medium companies with a specific end goal to understand the estimations of development.