Country Report
South Korea upstream summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Donghae-1 gas field ceased in December 2021, and the Donghae-2 gas field tied-back to Donghae-1 ceased in August 2021. Korea National Oil Corporation (KNOC) plans to turn the depleted Donghae-1 field into a 1.2 million tpa carbon capture and storage project by 2028.
Table of contents
- Executive summary
- Key facts
- Location maps
- Key companies
-
Geology
- Introduction
- Tsushima/Ulleung basin
- East China Sea/Jeju basin
-
Yellow Sea - Subei basin
- Northern Yellow Sea sub-basin
- Southern Yellow Sea sub-basin
- Kunsan sub-basin
-
Exploration
-
Licensing
- Recent activity
- Historical activity
-
Drilling
- Drilling activity
- Recent drilling activity
- Historical drilling activity
- Success rates
-
Licensing
- Reserves and resources
-
Production
- Oil and condensate
-
Infrastructure
- Introduction
- Oil infrastructure
- Gas infrastructure
-
Costs
- Introduction
-
Capital costs
- Capital expenditure by location
-
Policy and regulation
- Key legislation
- Regulatory body
- State oil company
- State participation
- Licensing
-
Fiscal terms
- Overview
- Current fiscal terms
-
Upstream
- Exploration
- Production
- Mid/Downstream
-
State equity participation
- Participation rate
- Carry and reimbursement
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Bonuses, rentals and fees
- Signature bonuses
- Production bonuses
- Area rentals
- Training fees
- Other bonuses and fees
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Indirect taxes
- VAT / Sales tax
- Import duties
- Social and development levies
-
Royalty and other production taxes
- Royalty
- Additional Royalty on High Oil Price Periods
- Export duty
- Environmental / CO2 taxes
- Other production taxes
- Domestic market obligation (DMO)
- 3 more item(s)...
Tables and charts
This report includes the following images and tables:
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Gas ProductionDrilling Activity and Commercial Success RatesKey facts: Table 1
-
Country MapNet Acreage 2026Remaining and Produced Liquids and Gas ReservesReserves and resources: Table 1Reserves and resources: Table 2Map of BasinsMapActive Blocks by BasinProduction: Table 1
- 19 more item(s)...
What's included
This report contains:
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