President Yun Suk Yeol earlier said South Korea would push to launch the project in the East Sea after a study suggested there was significant potential for deep-sea exploration off the coast of Yeongil Bay in Pohang, about 260 kilometers southeast of Seoul. Oil reserves may be buried. Yonhap news agency reports.
The decision came after the government commissioned Act-Geo to conduct a study in February last year, which suggested the deposit could hold 3.5 billion to 14 billion barrels of gas and oil.
Vitor Abreu, owner of a Houston, Texas-based research firm, told Yonhap news agency via Facebook that he was aboard a plane headed to South Korea for talks on the proposed project.
Abreu said he was scheduled to arrive in Seoul on Wednesday and planned to meet with Korea National Oil Corporation (KNOC) officials and government officials.He did not respond when asked if he planned to hold a press conference or had any response to the questions being circulated in online communities and social media over the company's authenticity.
Later in the day, KNOC announced that Abreu would arrive in Seoul on Wednesday morning at the corporation's request. And he will hold a press conference during his stay to explain his company's research on the South Korean oil project.
Claims have surfaced online that the company headquarters address was a residential home in suburban Houston, raising questions about whether Act-Geo was a properly equipped research unit.
The official website of Act-Jio has also remained inaccessible since the government's announcement.Amid the controversy, KNOC issued a press release detailing Abreu's background and past career experiences.
KNOC said Abreu was a veteran of 30 years in the field of deep-sea exploration, and previously served as head of the geology division at ExxonMobil and president of the American Association of Petroleum Geologists.
The company also said that during his days at ExxonMobil, Abreu played a leading role in the discovery of the largest deep-sea oil field in Guiana, South America.
The decision came after the government commissioned Act-Geo to conduct a study in February last year, which suggested the deposit could hold 3.5 billion to 14 billion barrels of gas and oil.
Vitor Abreu, owner of a Houston, Texas-based research firm, told Yonhap news agency via Facebook that he was aboard a plane headed to South Korea for talks on the proposed project.
Abreu said he was scheduled to arrive in Seoul on Wednesday and planned to meet with Korea National Oil Corporation (KNOC) officials and government officials.He did not respond when asked if he planned to hold a press conference or had any response to the questions being circulated in online communities and social media over the company's authenticity.
Later in the day, KNOC announced that Abreu would arrive in Seoul on Wednesday morning at the corporation's request. And he will hold a press conference during his stay to explain his company's research on the South Korean oil project.
Claims have surfaced online that the company headquarters address was a residential home in suburban Houston, raising questions about whether Act-Geo was a properly equipped research unit.
The official website of Act-Jio has also remained inaccessible since the government's announcement.Amid the controversy, KNOC issued a press release detailing Abreu's background and past career experiences.
KNOC said Abreu was a veteran of 30 years in the field of deep-sea exploration, and previously served as head of the geology division at ExxonMobil and president of the American Association of Petroleum Geologists.
The company also said that during his days at ExxonMobil, Abreu played a leading role in the discovery of the largest deep-sea oil field in Guiana, South America.
