ABOUT KNOC

The Korea National Oil Corporation (KNOC) was established in 1979. Following the two oil crises of the 1970s, the government of South Korea wanted to secure a stable oil supply. KNOC is the state-run oil company that carries out energy projects on behalf of the Korean Government.
1979 Established by the Korean Government in 1979 to secure a stable oil supply for South Korea	215 Approximately 215 projects in 24 countries including the UK, Canada, US, UAE, Kazakhstan, Peru and Indonesia
220,000 Average production of 220,000 barrels of oil per day	1,300 Headquartered in Seoul, South Korea and employs 1,300 people
2bn Mid-term strategy to achieve daily production of 300,000 barrels of oil per day and 2 billion barrels of reserves by the end of 2012	9 9 petroleum stockpiling bases with storage capacity of 146 million barrels
long-term strategy to achieve daily production of 600,000 barrels of oil per day by 2020	participation in 57 producing blocks, in addition to 12 under development and 146 under exploration
operating income of KRW (South Korean Won) 659.4 billion in 2010	sales of KRW (South Korean Won) 2533.7 billion in 2010
over 6,000 employees worldwide	invested $4 billion in 2011 to grow production and reserves

1979