윤 대통령 직접 "동해 석유·가스 가능성"‥전격적인 직접 발표, 왜? (2024.06.03/뉴스데스크/MBC)

Summary

South Korean President Yun Seong-yeol held an unexpected press conference, announcing the high probability of substantial oil and gas reserves off the coast of Pohang, Gyeongsangbuk-do. The estimated reserves could reach up to 14 billion barrels, potentially supplying the country's gas needs for up to 29 years and oil for over 4 years. The President revealed the results of a geological survey conducted by a U.S. firm last February, which is the first phase of a three-step exploration and development process. The first drilling operation is planned by the end of this year, with initial results expected by the first half of next year. This is the first time President Yun has used a national briefing format since taking office, raising questions about the timing and motives behind the announcement. The opposition party expressed support for the exploration, stating it could greatly benefit the national economy if confirmed.

Takeaways

• 🗓️ President Yun Seong-yeol held an unexpected press conference amidst a busy schedule.
• 🚨 There is a high possibility of a significant amount of oil and natural gas reserves off the coast of Pohang, Gyeongsangbuk-do.
• 📊 The estimated reserves could be up to 14 billion barrels, which is a substantial amount.
• 🔍 The first phase of exploration, the physical survey, was conducted by a U.S. specialized company and the results were directly disclosed by the President.
• 📉 The potential reserves could supply gas for up to 29 years and oil for up to 4 years for the country.
• 💰 The cost of drilling a single exploration well is approximately 100 million won, and at least five wells need to be drilled.
• 📍 The first drilling operation is planned to begin by the end of this year, with preliminary results expected by the first half of next year.
• 📢 This was the first time President Yun has held a national briefing since taking office, after 2 years and 1 month.
• 🤝 The President's briefing followed a busy schedule of summit talks with African leaders and a report from the Ministry of Trade, Industry and Energy.
• 👀 The opposition party expressed skepticism about the unusual briefing, questioning its motives amid a declining approval rating.
• 🛑 The opposition also stated that if the reserves are confirmed, it would greatly help the national economy and they would support it at the parliamentary level.

Q & A

What significant announcement did President Yoon Seok-yeol make regarding the potential oil and gas reserves off the coast of Pohang, Gyeongsangbuk-do?

President Yoon Seok-yeol announced that there is a high possibility of a substantial amount of oil and gas reserves being stored off the coast of Pohang, Gyeongsangbuk-do, with an estimated potential of up to 14 billion barrels.

What is the estimated volume of oil and gas reserves that might be present in the mentioned area?

The estimated volume of oil and gas reserves is up to 14 billion barrels, which could potentially supply gas for up to 29 years and oil for up to 4 years for the country's total usage.

What steps are involved in the exploration and development of the potential oil and gas reserves?

The exploration and development process involves three stages: physical exploration, exploration drilling, and commercial development.

When was the first stage of physical exploration conducted, and which company was responsible for it?

The first stage of physical exploration was conducted in February of the previous year and was entrusted to a U.S. professional company.

What is the plan for the exploration drilling phase, and when is it expected to start?

The plan for exploration drilling involves at least five drilling operations, each costing around 100 million won. The first drilling operation is expected to begin by the end of this year.

When is the expected timeframe for receiving some results from the exploration drilling phase?

The results from the exploration drilling phase are expected to be available by the first half of the following year.

Why was it unusual for President Yoon to hold a press briefing in this manner?

It was unusual because President Yoon held the briefing in a format of a national policy briefing for the first time since taking office, which was only 2 years and 1 month ago.

What was the context of President Yoon's announcement regarding the oil and gas reserves?

The announcement was made after President Yoon received a report from the Ministry of Trade, Industry and Energy and had a series of summit meetings with African leaders.

What is the opposition's stance on the exploration and potential development of the oil and gas reserves?

The opposition party stated that if the actual reserves are confirmed to be substantial, it would greatly help the national economy and they would support it at the parliamentary level.

What concerns were raised by the opposition regarding the timing and manner of President Yoon's announcement?

The opposition questioned whether the unusual press briefing was an attempt by President Yoon to change the political landscape, especially considering the declining approval ratings.

What is the potential economic impact if the oil and gas reserves are confirmed and developed?

If the reserves are confirmed and developed, it could provide a significant boost to the national economy by supplying substantial amounts of oil and gas for many years.