Korea National Oil Corporation (KNOC) is the national oil and gas company of South Korea

South Korea

The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...

 and one of the most important industrial companies in the country. The company operates oil

Oil

An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....

 and gas

Natural gas

Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...

 fields in Vietnam

Vietnam

Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...

, Libya

Libya

Libya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....

, Peru

Peru

Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....

, Indonesia

Indonesia

Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...

, Nigeria

Nigeria

Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...

, Yemen

Yemen

The Republic of Yemen , commonly known as Yemen , is a country located in the Middle East, occupying the southwestern to southern end of the Arabian Peninsula. It is bordered by Saudi Arabia to the north, the Red Sea to the west, and Oman to the east....

, Kazakhstan

Kazakhstan

Kazakhstan , officially the Republic of Kazakhstan, is a transcontinental country in Central Asia and Eastern Europe. Ranked as the ninth largest country in the world, it is also the world's largest landlocked country; its territory of is greater than Western Europe...

, Russia

Russia

Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...

, Canada

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

 and South Korea

South Korea

The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...

.

The company has oil

Oil

An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....

 reserves of around 600 Moilbbl and gas

Natural gas

Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...

 reserves of 10 billion m³.

On 26 September 2008 KNOC signed a deal with the Kurdistan Regional Government

Kurdistan Regional Government

The Kurdistan Regional Government , , is the official ruling body of the predominantly Kurds-populated Kurdistan Region in Northern Iraq...

 where KNOC was granted rights to explore and drill on several sites in the Iraqi Kurdistan in exchange for valuable support on a range of infrastructure projects.

In 2009, the company purchased North Atlantic Refining

North Atlantic Refining

North Atlantic Refining is a petroleum company based in Newfoundland and Labrador, Canada. The company operates the Come By Chance Refinery in Come By Chance that produces of oil per day....

 and its refinery in Come By Chance, Newfoundland and Labrador

Come By Chance, Newfoundland and Labrador

Come By Chance is a town on the Avalon Peninsula in Newfoundland and Labrador, Canada. It is in Division No. 1 on Placentia Bay.Located in this town is Newfoundland's only oil refinery, the Come By Chance Refinery operated by North Atlantic Refining Company, which has a capacity of .According to...

.

On 2 July 2010 KNOC confirmed preliminary discussions regarding a possible cash offer for the entire issued and to-be-issued share capital of Dana Petroleum

Dana Petroleum

Dana Petroleum is a Korean-owned, British-based oil and gas exploration and production company. Its activities are focused on the North Sea and Africa. It is headquartered in Aberdeen and is a former constituent of the FTSE 250 Index.-History:...

.