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KNOC meaning in Business ? |
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Answer» What is Korea National Oil Corporation mean? Korea National Oil Corporation (KNOC) is the national oil and gas company of South Korea and one of the most important industrial companies in the country. The company operates oil and gas fields in Vietnam, Libya, Peru, Indonesia, Nigeria, Yemen, Kazakhstan, Russia, Canada and South Korea. The company has oil reserves of around 600 million barrels (95,000,000 m3) and gas reserves of 10 billion m3. On 26 September 2008 KNOC signed a deal with the Kurdistan Regional Government where KNOC was granted rights to explore and drill on several sites in the Iraqi Kurdistan in exchange for valuable support on a range of infrastructure projects. In 2009, the company purchased Harvest Operations, along with its subsidiary North Atlantic Refining and its refinery in Come By Chance, Newfoundland and Labrador. On 2 July 2010 KNOC confirmed preliminary discussions regarding a possible cash offer for the entire issued and to-be-issued share capital of Dana Petroleum. reference
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