KNOC to drop Kazakh block

摘要

State-owned Korea National Oil Corp (KNOC) is in talks with the Kazakhstan government to relinquish the Zhambyl Block following disappointing exploration results. KNOC leads a South Korean consortium, which holds 27% in the Zhambyl Block on the coast of the Caspian Sea. The group has invested around US $250m so far, including acqui- sition costs and exploration work since 2008.