KNOC is the only public petroleum exploration and production enterprise contributing to the development of the national economy by stabilizing the supply and demand of petroleum, and engaging in the exploration, production, storage, and distribution of petroleum. In response to unstable international oil prices and supplies in the global oil market, KNOC declared the year 2019 as the starting year of emergency management. Since then, all officers and employees of KNOC have been putting every endeavor to ensure public confidence.

KNOC is actively promoting new eco-friendly and low-carbon energy projects.

KNOC is accelerating the development of new renewable energy projects as well as the reduction of carbon emission to keep pace with the global energy conversion focusing on low-carbon energy and Green New Deal policies. Moreover, KNOC is promoting new converged energy projects linking natural gas development based on the continental shelf exploration of Korea, CCS (Carbon Capture & Storage), and hydrogen production. KNOC is strengthening its foundation to be a global energy enterprise leading the low-carbon economy as well as eco-energy production by building the floating offshore wind power generation complex near the East Sea Gas Field, which will cease production.

KNOC devotes itself to the sustainable environment and safety

KNOC achieved a no disaster work place for 20 consecutive years through strict safety management and secured public safety through the improvement of safety facilities against explosion, fires, and drone attack. KNOC achieved the 112% of greenhouse gas emission goals in 2020 through greenhouse gas and energy goal management in the public sector and the operation of the Greenhouse Gas Reduction and Energy Saving Promotion Committee. In addition, KNOC is leading the action against climate change by the expansion of solar power station facilities and stockpiling branches.

KNOC realizes the social values to be felt by partners, the local communities, and the public as a public enterprise

KNOC endeavors in various ways in order to create a mutual growth ecosystem for the domestic petroleum industry and a fair transaction culture. Furthermore, KNOC is the only public enterprise supporting disabled athletes, enabling them to concentrate on sports in a stable environment by assigning the employees to be in charge of the duties related to disabled athletes in Ulsan. In addition, KNOC comes closer to the public, including support for medical practitioners devoting themselves to overcoming the COVID-19 pandemic, small businesses suffering from economic difficulties, and low-income families.

KNOC puts every endeavor to contribute to enhancing people’s happiness as well as living up to expectations from diverse related parties by becoming an energy enterprise beyond petroleum for sustainable growth.

Thank you.

Sustainability Report