Pohang Yeongilman Port Designated as Auxiliary Port for Great Whale Project

On the 25th, Pohang City announced that Yeongilman Port will participate as an auxiliary port for the ‘Daewanggorae Project,’ a deep-sea gas field development project in the East Sea, where the first exploratory drilling is scheduled to begin next month in the waters off Yeongilman, Pohang.

Yeongilman Port Hinterland Complex. Provided by Pohang City

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The drilling operations for the Daewanggorae Project, conducted in the Yeongilman area, are expected to start in mid-December and continue for about 40 days once the drilling plan is approved at the Ministry of Trade, Industry and Energy’s development strategy meeting on the 27th.

The contract for ‘auxiliary port facility lease and cargo handling services’ for the first exploratory drilling was signed between ‘Yeongil New Port’ and the ‘Korea National Oil Corporation,’ and will be carried out in accordance with the drilling schedule from November 25 to February 24 of next year.

Accordingly, Yeongilman Port will serve as an auxiliary port by providing additional supplies of insufficient equipment through supply ship berthing if necessary during the drilling process, and by promoting emergency cargo handling to ensure stability.

Above all, the auxiliary port contract is significant in that it allows Yeongilman Port to accumulate essential port experience to advance as a hinterland port in preparation not only for additional drilling operations in the future but also for the realization of oil field development.

Following the signing of the ‘Pohang City & Gyeongbuk Province ⇔ Korea National Oil Corporation Regional Win-Win Development Agreement’ on July 18, Pohang City concretized the first step by establishing the ‘Korea National Oil Corporation-Pohang Mutual Development Cooperation Center’ within Pohang City Hall on September 5, and through continuous efforts to discover win-win projects such as revitalizing Yeongilman Port, successfully secured the auxiliary port contract.

Pohang City and Gyeongbuk Province signed an MOU for regional co-prosperity development with Korea National Oil Corporation. Photo by Pohang City

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Mayor Lee Kang-deok said, “I hope the Daewanggorae Project, which is being promoted in the waters off Yeongilman, will lead to successful results contributing to national energy security,” and added, “With solid preparations such as expanding Yeongilman Port infrastructure, we will do our utmost to ensure Pohang plays an important role in the national energy industry’s great transformation.”

Based on close cooperation with Gyeongbuk Province, Pohang City plans to make every effort to develop Yeongilman Port as an energy hub port by promoting the ‘Yeongilman Port Expansion Development Basic Plan Service’ and the ‘Yeongilman Port Swell Improvement Measures Service’ in preparation for the development of the East Sea deep-sea gas field.

In September, the 'Korea National Oil Corporation-Pohang' Mutual Development Cooperation Center was opened. Provided by Pohang City

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