KNOC Plans to Spend $4 Billion on Oil Assets, Targets 33% Output Increase

Korea National Oil Corp., a state- run energy resources developer, plans to invest as much as $4 billion in overseas oilfields this year as it aims to increase crude production by 33 percent.
“We’re interested in assets in Africa, Europe, Asia, the U.S. and Canada,” Kim Seong Hoon, senior executive vice president, said in an interview. “We plan to raise daily output by 60,000 barrels to 240,000 barrels by the end of the year.”
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Source: Bloomberg