Korea National Oil Corporation

In 1979, Korea National Oil Corporation (KNOC) was founded to stabilize the national economy of Korea by securing a stable oil supply to the country through strategic petroleum stockpiling and development. KNOC maintains extensive technology and know-how for oil exploration, development, and production and now KNOC is operating various projects in 17 counties around the world which include oil fields in the North Sea and shale gas fields in North America. Total reserves now almost reach 1.4 billion barrels and daily production 170000 barrels.