S. Korea to actively explore continental shelf for gas

By Lee Joon-seung
SEOUL, Feb. 25 (Yonhap) -- South Korea plans to explore its continental shelf
extensively for natural gas over the next 10 years as part of efforts to develop
more undersea mineral resources, the government said Wednesday.
Under the plan, the government will spend 500 billion won (US$331 million) to
drill 20 exploratory holes on the continental shelf around the Korean Peninsula,
the Ministry of Knowledge Economy said.
"In light of past assessments and updated data on underwater topographical
features, it may be possible to find new natural gas deposits equivalent to 100
million tons of crude oil," the ministry said.
Currently, South Korea operates a gas field in the East Sea that is estimated to
have deposits equivalent to 45 million barrels of oil.
The ministry also said it will invest 400 billion won to start commercial
production of gas hydrates in the East Sea by 2015.
"At least 10 drilling operations will be carried out for gas hydrates to find the
best deposits," the official said.
Gas hydrates refer to a semisolid mixture of methane gas and water molecules that
are created by water pressure and cold temperatures found deep in the ocean.
The state-run Korea National Oil Corp. said anywhere from 800 million to 1
billion tons of the material may exist in waters controlled by South Korea,
enough to meet the country's gas demands for up to 30 years.
yonngong@yna.co.kr
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