South Korea: Woodside-KNOC wildcat spud nears

Woodside Energy (Korea) Pte. Ltd., a subsidiary of Woodside Petroleum Ltd., will spud its first exploratory well, Jujak-1, offshore South Korea in the second quarter of 2012.

Woodside Energy (Korea) Pte. Ltd., a subsidiary of Woodside Petroleum Ltd., will spud its first exploratory well, Jujak-1, offshore South Korea in the second quarter of 2012.

Woodside Energy and Korea National Oil Corp. acquired 50-50 interests in early 2007 in a contract that covers Block 8 and the northern part of Block 6-1 in the East Sea 30 km east of P’ohang. The contract area covers 13,000 sq km in 300-2,000 m of water.

The two companies had been studying the Ulleung basin just north of the country’s only producing hydrocarbon area, Donghae-1 gas-condensate field.

More in Exploration & Development