KNOC was founded in 1979 to secure a reliable supply of oil in the wake of two oil shocks that took place in the 1970s.

Since the mid-1980s, KNOC has been running oil development projects at home and abroad by pursuing independent capabilities in oil exploration. This has put Korea among the ranks of the world’s oil producers by successfully completing the Donghae Gas Field project in 1988. Currently, KNOC has oil field development projects in 17 countries.

As a key player in ensuring ‘National Energy Security,’ KNOC expands exploration of Donghae Gas Field and operates nine oil stockpiling bases containing 97 million barrels of oil, which is equivalent to 95 days of oil imports.