KNOC says finds extra 11mn bbls crude in Kazakhstan field

SEOUL: Korea National Oil Corp (KNOC) said on Monday that it had discovered an additional 11 million barrels of crude oil in a Kazakhstan oil field, bringing its total oil reserve there to 41 million barrels.

KNOC, which plans additional exploration next year near the Ada oil reserve in northwest Kazakhstan, expects to secure an extra 17 million-42 million barrels of oil, the state-run company said in a statement.

Ada reserve has been producing some 3,200 barrels per day of crude oil for tests since July 2009. KNOC and LG Corp joined the project in 2005.