Market Chatter: South Korea's East Sea Gas and Oil Exploration Project Set to Commence with Drillship's Arrival

MT Newswires Live2024-12-09

The West Capella, a drillship operated by Norway-based Seadrill, arrived near Busan to initiate South Korea's East Sea gas and oil exploration project, Yonhap News reported Monday.

Over the next week, the drillship will prepare supplies before heading to its first drilling site, aiming to uncover up to 14 billion barrels of resources, the report said, citing the Ministry of Trade, Industry and Energy and Korea National Oil.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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