Seoul launches underwater gas exploration project
Seoul - Yonhap
The government on Thursday began a search for new gas and oil reserves in waters off the country's east coast, awarding the US$130 million project to two separate consortiums that include private companies. The project aims to drill two exploratory holes in the country's 6-1 offshore block in the East Sea, where the country is already producing some 1,000 tons of natural gas per day, an equivalent to the daily consumption of 340,000 households, according to the Ministry of Knowledge Economy.
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