MOTIE is pursuing a long-term strategy of overseas energy development projects to ensure supply stability.
Increased Self-Sufficiency
- raise the self-sufficiency rate by 2012 to 18.1% for crude oil and natural gas from 2007’s 4.2% level; raise the self-sufficiency rate by 2012 to 32% from 2007’s 18.2% for six major mineral resources.
Enhance Overseas Development
- increase Korea National Oil Corporation’s (KNOC) daily production from 50,000 barrels per day (2007) to 300,000 barrels per day by 2012.
