The West Capella drilling ship, owned by Seadrill, is expected to arrive at Busan port around Dec. 10 and proceed to the "Blue Whale" drilling site, about 50 kilometers east of Pohang. The ship can drill to depths of 11,430 meters.
U.S. oilfield services giant Schlumberger will analyze rock and gas samples from more than 1 kilometer beneath the seabed, with initial results expected in early 2025.
"We have completed preparations for the first drilling operation and hope to derive optimal results based on our previous analysis," a senior KNOC official said.
The operation is estimated to cost more than 100 billion won ($72.9 million), with about a 20 percent success rate per drilling. KNOC plans to drill at least five wells over the next five years.
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