October 3, 2008

Gazprom Could Invite Knoc to Explore Western Kamchatka Shelf

YUZHNO-SAKHALINSK. Oct 3 (Interfax) - Gazprom (RTS: GAZP) does not rule out that it could invite South Korea's Korea National Oil Corp. (KNOC) to work on the Western Kamchatka shelf, Viktor Timoshilov, Gazprom's Eastern Projects Coordinator, told journalists.

KNOC worked earlier on the Western Kamchatka shelf together with oil company Rosneft (RTS: ROSN). But in August 2008 the company lost its license to this block. The government decided to transfer the license to the Western Kamchatka shelf to Gazprom.

"If the company's technological potential allow to improve geological survey on this block, we will consider their proposal," Tymoshilov said.

South Korea is interested first and foremost in smooth gas supplies, he said. "Korea's primary interest is in smooth gas supplies. This is not directly linked with who is going to explore the deposit," he said.

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