Underground for Oil, Aboveground as Citizen Park... Ulsan City Grants Completion Approval for 'Petroleum Storage Base Underground Construction Project'

Construction Started in January 2016, Final Completion After 6 Years

On November 19, the 'Ulsan Oil Storage Base' was completed at the Ulsan branch of the Korea National Oil Corporation in Onsan-eup, Ulju-gun, Ulsan City. Interior view of the storage base. [Image source=Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City gave the final approval on the 23rd for the completion of the Onsan National Industrial Complex 'Underground Construction Project of the Petroleum Reserve Base.'

The 'Underground Construction Project of the Petroleum Reserve Base,' promoted as a win-win model by private companies, public enterprises, and local governments, is a project to store 10.3 million barrels of petroleum in an underground joint duct covering 980,000㎡ in the Haknam-ri area of Onsan-eup, Ulju-gun.

The underground joint duct measures 18m in width, 30m in height, and 2.97km in length, and was completed six years after construction began in January 2016.

According to an agreement between Korea National Oil Corporation and S-Oil in June 2013, part of the Korea National Oil Corporation's aboveground tank site was sold to S-Oil, and the underground construction project of the petroleum reserve base was promoted on the remaining site.

S-Oil built a petrochemical complex facility on that site. Korea National Oil Corporation replaced the aging aboveground petroleum storage tanks, which had been in use for 33 years, with a semi-permanent underground storage facility that is safe from natural disasters and external attacks.

Under normal circumstances, it stores petroleum, and in emergencies, it supplies reserve oil to maintain smooth supply and stable prices.

Ulsan City utilized the reserve base and petrochemical cooperation cluster as a stepping stone to become a center for Northeast Asian petroleum trade and an energy hub.

Above the underground petroleum reserve base, Haknam Park and scenic green spaces covering 380,000㎡ were created. Equipped with a 4.5km walking trail, fitness center, badminton court, rest areas, and parking lots, it has become a resting space for workers and citizens within the Onsan National Industrial Complex.

As the project approval authority for the Onsan National Industrial Complex, Ulsan City mediated and provided administrative support to ensure the smooth progress of the petrochemical complex facility construction and the underground petroleum reserve base construction project.

An official from Ulsan City said, "The completion ceremony was held on November 19," adding, "This time, all public facilities such as parks, green spaces, parking lots, and roads have been completed, and final approval for completion has been granted."

This content was produced with the assistance of AI translation services.