Korea National Oil Corporation

Korea National Oil Corporation (KNOC) is the state-owned national oil company of South Korea, established in 1979 under the Korea National Oil Corporation Act to ensure a stable supply of petroleum resources and support national energy security. KNOC operates as an integrated upstream oil and gas company engaged in exploration, development, and production of hydrocarbon resources across 17 countries worldwide, with daily production of approximately 136,000 barrels of oil equivalent. The corporation manages South Korea's strategic petroleum reserves through nine storage facilities with a total capacity of 146 million barrels, storing approximately 100 million barrels of crude oil and refined products. KNOC's wholly owned subsidiary Dana Petroleum Limited operates North Sea assets in the UK, Netherlands, and Egypt. The company maintains a Global E&P Technology Center in Ulsan that conducts R&D in seismic data acquisition, drilling technology, and new energy development. KNOC has acquired over 116,549 line-km of 2D seismic data and 7,519 sq-km of 3D seismic data and has drilled 47 exploration wells domestically. Headquartered in Ulsan, South Korea, the corporation employs between 1,001 and 5,000 people and serves as a critical pillar of South Korea's energy infrastructure.