Act-Geo Owner Leads Offshore Oil Project Talks in South Korea

A geoscience research company owner from the United States is heading to South Korea to discuss a new offshore oil and gas exploration project on the east coast. The project aims to tap into significant oil deposits off the coast of Yeongil Bay in Pohang, as indicated by a study conducted by Act-Geo. The study suggests that the deposits could potentially hold between 3.5 billion and 14 billion barrels of gas and oil.

The owner of Act-Geo, based in Houston, Texas, is scheduled to meet with officials from the Korea National Oil Corp. and the South Korean government to delve into the details of the project. Despite some doubts raised online about Act-Geo's credibility as a research entity, the KNOC has verified the owner's background in deep-sea exploration, highlighting his extensive experience in the field.

Following the government's announcement, Act-Geo's official website has become inaccessible. However, the KNOC has shared insights into the owner's career, underscoring his past roles at ExxonMobil and his significant contributions to deep-sea oil exploration in Guyana, South America.

As the owner gears up for a press conference in Seoul to present Act-Geo's research on the South Korean oil project, the KNOC continues to emphasize his expertise and proven track record in the industry.

The collaboration between Act-Geo and South Korea for the offshore oil and gas exploration project signifies a significant step towards harnessing the potential resources in the East Sea. With the owner's wealth of experience and the support of the KNOC, the project holds promise for unlocking valuable energy reserves that could benefit both countries and contribute to the global energy landscape.