KNOC secured five exploration blocks in northern Iraq(Kurdistan autonomous region) in November, 2008. The deal, followed by the contract of Bazian block in 2007, is the part of KNOC's long-term strategic plan. Iraq has the third largest oil reserves in the world and much of the nation's territory is still remaining or is still unexplored and undeveloped.
The five blocks, located in the Zagros basin of northern Iraq, KNOC operates three of these blocks - Qush Tappa, Sangaw South, Bazian - with technologies and experiences accumulated for decades, and KNOC took part in the Sangaw North and Hawler blocks as partner.

Bazian Block. KNOC Bazian Limited, a corporation owned by a Korean consortium headed by the Company, secured rights to the Bazian Block in the Kurdistan autonomous region in northern Iraq after negotiation with the Kurdistan regional government in November 2007. The consortium members consist of [Daesung, Samchully, Bum-Ah, UI Energy, GS Holdings and Majuko Corp.] The Company directly owns a 20% interest in the Bazian Block, as well as a 45.6% indirect interest through KNOC Bazian Limited, bringing the Company’s total interest in the Bazian Block to 65.6%.
The company drilled an exploratory well from October 2009 to August 2010.
Extensive evaluation is ongoing, after acquiring 2D infill seismic data.

The company acquired interests in the Sangaw South Block in the Kurdistan autonomous region in Iraq in December 2008, serves as the operator. The Company drilled an exploratory well from July 2011 to November 2011 and post well evaluation is ongoing.