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Oil in N. Korea

The common thread of economic growth is Oil. The common thread of terror is Oil.

Therefore ecoomic growth is terror
Oily peak:  http://www.globalpublicmedia.com/SECTIONS/ENERGY/oil.depletion.php


Please note that the presence of large amounts of oil off North Korea, is not an accepted fact, by any means.

North Korea has published three documents on its hydrocarbon reserves [April 1997]

General Information on North Korean Oil Fields
East Sea (See of Japan) Reserves
West Sea (Yellow Sea) Reserves
These documents indicate oil reserves of 8-10 billion tons [58-73 Gb].
This information was released at Rajin-Sonbong seminars held in Japan and reported by Sankei-Shinbun, a major Japanese newspaper.
Jo-Chong-Ryon (General Association of Koreans Resident in Japan) has published a lower figure of 6 billion tons.
A Japanese petroleum engineer has examined samples provided by North Korea at a Rajin oilfield and determined the crude to be of high grade.
North Korea is looking to joint-venture with major oil exploration companies to co-develop its hydrocarbon reserv es as part of the Rajin-Sonbong Free Trade Zone.

North Korea's Upcoming Oil Boom [~1998]
North Korea has been touting its enormous oil reserves for several years but until recently, the international oil community has ignored Pyongyang's claims as sheer propaganda and fiction.
Late last year, North Korea published veritable geological data made by North Korean and refutable Western oil engineers. Several multi-national giants (including S Korea's Daewoo and US Stanton) are eager to move in.
North Korea plans to form a KEDO-like international consortium to bring up its black gold.

North Korean Oil Reserve Links [2002]
"Halliburton's ability to maximize the value of the reservoir with our leading-edge technologies and superior service quality, in addition to our record of safe working practices and stewardship of the environment, has allowed us the opportunity to work with KNOC on this first-ever development project in Korea," said Edgar Ortiz, chief executive officer, Halliburton Energy Services Group. "Korea is now developing its oil and gas reserves, and Halliburton is proud to be assisting in this effort."

Halliburton [March 25, 2002]
North Korea has significant, but quite unmeasured reserves of offshore oil. Many countries have lined up to help them extract it but little oil drilling has yet to be done. The official DOE summary of North Korean oil is probably out of date. This kimsoft.com estimate talks about 10 billion tons. A ton contains 7.33 barrels of oil so 7.33 * 10 billion = 73 billion barrels.

N. Korean Oil Projects Emerge as Realistic Issue [1997]
By Mun Ho Il Special to The People's Korea
"...The Canada-based KANTEK Company estimates in its materials declassified on Sept. 25 that the north Korean oil reserves in District No. 606 of the Korean West Sea continental shelf reach about five to 40 billion barrels. The south Korean vernacular daily Hanguk Ilbo on Sep. 29 reported the U.S.-based Stanton Group is eager to invest in an oil project as a KEDO-style consortium member..."

DPRK Set on Developing Oil Resources [1997]
"...After 30 years of geological study and test drilling, the Ministry of Petroleum Industry concluded in its recent survey that there are eight oil-bearing basins in the DPRK. They are the Pyongyang Basin, West Sea Bay Basin, East Sea Bay Basin, Onchon Basin (Nampo), Kyongson Bay Basin (Chonjin), Anju Basin (South Pyongan Province) and Kilju Basin (North Hamgyong Province). The report suggests that the West Sea Bay and Anju Basins are promising among them, and figures out that the West Sea Bay Basin contains about 5 to 40 billion barrels of oil..."