[News Today] HURDLES TO GAS DRILLING PROJECT
입력 2024.12.19 (16:39)
수정 2024.12.19 (16:40)
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[LEAD]
A project targeting deep-sea gas field development in the East Sea is set to start its first drilling operation as early as today. Despite its importance to the Yoon Suk Yeol administration, the project faces setbacks from the start. Budgets have been cut and its facing strong opposition from local fishermen.
[REPORT]
Some 40 kilometers southeast of Yeongilman bay port in Pohang, Gyeongsangbuk-do Province.
The vessel West Capella emerges as it is set to conduct the first drilling in a gas field exploration project in deep East Sea waters.
The ship will begin drilling as early as Thursday to gather specimens for two months before disclosing its initial findings in the first half of next year.
Korea National Oil Corporation Official /
Positioning work for the exact drill location is underway while onsite workers are making related preparations.
The problem is the cost. Opposition lawmakers slashed the project's budget for next year by 98%.
The Korea National Oil Corporation set aside 100 billion won(USD 68.8 mn) from its own budget for the cost of first phase drilling but funding beyond that remains unclear.
Four more drillings are scheduled which will cost 400 billion won more, a bill the KNOC cannot afford amid fiscal woes.
The company said it will prepare funds from the second drilling stage through foreign investment, but many variables lie ahead including the success, or lack there of, in the first drilling and the presidential impeachment.
Fishermen also protest the project.
Those catching red snow crab in the area say the drilling period overlaps with their peak season and are demanding compensation.
Kim Jin-man / Guryongpo coast red snow crab shipowners assoc.
The crab catching ban period is between Jul. 10-Aug. 25. Drilling could have taken place then. Why does it have to be now, creating conflict with fishermen?
But the oil corporation says it cannot compensate for damage such as a blow to fishery resources.
The project has kicked off amid the impeachment crisis and observers note its future prospect depends on the outcome of the first operation.
A project targeting deep-sea gas field development in the East Sea is set to start its first drilling operation as early as today. Despite its importance to the Yoon Suk Yeol administration, the project faces setbacks from the start. Budgets have been cut and its facing strong opposition from local fishermen.
[REPORT]
Some 40 kilometers southeast of Yeongilman bay port in Pohang, Gyeongsangbuk-do Province.
The vessel West Capella emerges as it is set to conduct the first drilling in a gas field exploration project in deep East Sea waters.
The ship will begin drilling as early as Thursday to gather specimens for two months before disclosing its initial findings in the first half of next year.
Korea National Oil Corporation Official /
Positioning work for the exact drill location is underway while onsite workers are making related preparations.
The problem is the cost. Opposition lawmakers slashed the project's budget for next year by 98%.
The Korea National Oil Corporation set aside 100 billion won(USD 68.8 mn) from its own budget for the cost of first phase drilling but funding beyond that remains unclear.
Four more drillings are scheduled which will cost 400 billion won more, a bill the KNOC cannot afford amid fiscal woes.
The company said it will prepare funds from the second drilling stage through foreign investment, but many variables lie ahead including the success, or lack there of, in the first drilling and the presidential impeachment.
Fishermen also protest the project.
Those catching red snow crab in the area say the drilling period overlaps with their peak season and are demanding compensation.
Kim Jin-man / Guryongpo coast red snow crab shipowners assoc.
The crab catching ban period is between Jul. 10-Aug. 25. Drilling could have taken place then. Why does it have to be now, creating conflict with fishermen?
But the oil corporation says it cannot compensate for damage such as a blow to fishery resources.
The project has kicked off amid the impeachment crisis and observers note its future prospect depends on the outcome of the first operation.
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- [News Today] HURDLES TO GAS DRILLING PROJECT
-
- 입력 2024-12-19 16:39:07
- 수정2024-12-19 16:40:07
[LEAD]
A project targeting deep-sea gas field development in the East Sea is set to start its first drilling operation as early as today. Despite its importance to the Yoon Suk Yeol administration, the project faces setbacks from the start. Budgets have been cut and its facing strong opposition from local fishermen.
[REPORT]
Some 40 kilometers southeast of Yeongilman bay port in Pohang, Gyeongsangbuk-do Province.
The vessel West Capella emerges as it is set to conduct the first drilling in a gas field exploration project in deep East Sea waters.
The ship will begin drilling as early as Thursday to gather specimens for two months before disclosing its initial findings in the first half of next year.
Korea National Oil Corporation Official /
Positioning work for the exact drill location is underway while onsite workers are making related preparations.
The problem is the cost. Opposition lawmakers slashed the project's budget for next year by 98%.
The Korea National Oil Corporation set aside 100 billion won(USD 68.8 mn) from its own budget for the cost of first phase drilling but funding beyond that remains unclear.
Four more drillings are scheduled which will cost 400 billion won more, a bill the KNOC cannot afford amid fiscal woes.
The company said it will prepare funds from the second drilling stage through foreign investment, but many variables lie ahead including the success, or lack there of, in the first drilling and the presidential impeachment.
Fishermen also protest the project.
Those catching red snow crab in the area say the drilling period overlaps with their peak season and are demanding compensation.
Kim Jin-man / Guryongpo coast red snow crab shipowners assoc.
The crab catching ban period is between Jul. 10-Aug. 25. Drilling could have taken place then. Why does it have to be now, creating conflict with fishermen?
But the oil corporation says it cannot compensate for damage such as a blow to fishery resources.
The project has kicked off amid the impeachment crisis and observers note its future prospect depends on the outcome of the first operation.
A project targeting deep-sea gas field development in the East Sea is set to start its first drilling operation as early as today. Despite its importance to the Yoon Suk Yeol administration, the project faces setbacks from the start. Budgets have been cut and its facing strong opposition from local fishermen.
[REPORT]
Some 40 kilometers southeast of Yeongilman bay port in Pohang, Gyeongsangbuk-do Province.
The vessel West Capella emerges as it is set to conduct the first drilling in a gas field exploration project in deep East Sea waters.
The ship will begin drilling as early as Thursday to gather specimens for two months before disclosing its initial findings in the first half of next year.
Korea National Oil Corporation Official /
Positioning work for the exact drill location is underway while onsite workers are making related preparations.
The problem is the cost. Opposition lawmakers slashed the project's budget for next year by 98%.
The Korea National Oil Corporation set aside 100 billion won(USD 68.8 mn) from its own budget for the cost of first phase drilling but funding beyond that remains unclear.
Four more drillings are scheduled which will cost 400 billion won more, a bill the KNOC cannot afford amid fiscal woes.
The company said it will prepare funds from the second drilling stage through foreign investment, but many variables lie ahead including the success, or lack there of, in the first drilling and the presidential impeachment.
Fishermen also protest the project.
Those catching red snow crab in the area say the drilling period overlaps with their peak season and are demanding compensation.
Kim Jin-man / Guryongpo coast red snow crab shipowners assoc.
The crab catching ban period is between Jul. 10-Aug. 25. Drilling could have taken place then. Why does it have to be now, creating conflict with fishermen?
But the oil corporation says it cannot compensate for damage such as a blow to fishery resources.
The project has kicked off amid the impeachment crisis and observers note its future prospect depends on the outcome of the first operation.
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