KNOC explored Donghae-1 gas field with its technology, putting Korea on the list of oil-producing countries. Based on the 30-year-long technical competitiveness and know-how, KNOC, a state-run oil company, is playing a leading role in developing oil fields to stably supply the Korean economy with energy, stockpiling oil in case of emergencies and to improve oil distribution structure for wholesome development of the domestic oil industry.
Under its goal for sizeable growth, ‘GREAT KNOC 3020’, reaching a daily production volume of 300 thousand barrels and reserves of 2 billion barrels by 2012, the Corporation has taken over a series of overseas promising companies. In 2010, it has given strong impression to major global oil players by integrating with Dana petroleum plc., a British independent oil company, after a string of M&A with SAVIA-Peru, Harvest Energy Trust in Canada and Sumbe in Kazakhstan in 2009.
Growing as a major global oil corporation, KNOC promotes four core values: Challenge, Professionalism, Respect and Contribution.