Britain's BP tapped as preferred bidder for Korea's deep-sea gas project: sources

Britain's BP tapped as preferred bidder for Korea's deep-sea gas project: sources

The Korea National Oil Corp. (KNOC) has tapped British oil major BP as the preferred bidder for Korea's project to develop oil and gas prospects in the East Sea, industry sources said Monday. KNOC reached the internal decision last week and is in talks with the Ministry of Trade, Industry and Resources before officially announcing the bidding result, according to the sources familiar with the matter. The Korean company opened the bid in March to…

BP Selected as Preferred Negotiator for Joint Development of East Sea Gas Field

The West Capella conducts exploratory drilling at the Great Whale prospective structure located off the coast of Pohang, North Gyeongsang Province. (Captured from KNOC News) BP has reportedly been selected as the preferred negotiator for the joint development of the East Sea deep-sea gas field. With a global oil major participating, industry observers note that this could breathe new life into the East Sea deep-sea gas development project. Accor…