South Korea Oil and Gas Report - Business Monitor International - Industry Reports

South Korea Oil and Gas Report

South Korea Oil and Gas Report - Business Monitor International - Industry Reports
South Korea Oil and Gas Report
Published Aug 27, 2016
71 pages — Published Aug 27, 2016
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Abstract:

We note that potential commercialisation of South Korea s methane hydrates resources could provide a small boost to the country s limited natural gas output further down the road, posing a small upside risk to our future production forecasts. According to government estimates, the East Sea is estimated to hold about ---mn tonnes of methane hydrates resources. That said, we do not expect a major breakthrough within the next -- years, given that exploration still remains in its nascent stage. Moreover, as excessive extraction works on South Korea s seabeds carry substantial risk of landslides, public opposition to large-scale development will remain fierce. Even if production could come online within the next decade, it is likely that output volumes will be kept at largely negligible levels, until the level of risks involved could be properly ascertained. ...Moreover, as excessive extraction works on South Korea s seabeds carry substantial risk of landslides, public opposition to large-scale development will remain fierce. Even if production could come online within the next decade, it is likely that output volumes will be kept at largely negligible levels, until the level of risks involved could be properly ascertained.

...Out of South Korea s five offshore oil and gas basins, only Ulleung basin - that houses the country s only producing gas field, the Donghae-- - is seeing ongoing exploration efforts. The subdued interest in South Korea s offshore areas is a result of not only low oil prices, but also the limited prospectivity of Korea s exploration acreages. ...Out of South Korea s five offshore oil and gas basins, only Ulleung basin - that houses the country s only producing gas field, the Donghae-- - is seeing ongoing exploration efforts. The subdued interest in South Korea s offshore areas is a result of not only low oil prices, but also the limited prospectivity of Korea s exploration acreages. A joint venture (JV) between KNOC and Woodside Petroleum is prospecting for hydrocarbons in Block -/---N at the Ulleung basin. ...Daewoo International holds several exploration rights in the Block --- until August ---- as part of a JV with KNOC. Daewoo will be awarded a ---year production licence if recoverable resources are found.

...South Korea produced ---.-mn bbl of refined products (equivalent to -.-mn b/d) over H---, a -.- increase y-o-y, as low fuels prices helped to boost consumption for certain fuels in the domestic and regional markets. In particular, gasoline demand growth in the Asian emerging economies helped to support South Korea s exports to these countries. ...

  
Source:
Document ID
1748-426X
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "South Korea Oil and Gas Report" Aug 27, 2016. Alacra Store. Dec 07, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/South-Korea-Oil-and-Gas-Report-2026-97>
  
APA:
Business Monitor International - Industry Reports. (2016). South Korea Oil and Gas Report Aug 27, 2016. New York, NY: Alacra Store. Retrieved Dec 07, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/South-Korea-Oil-and-Gas-Report-2026-97>
  
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