The Korean government’s announcement about the potential existence of up to 14 billion barrels of oil and gas off the coast of Pohang has sparked a heated debate in Japan. Some Japanese citizens have made absurd claims online, suggesting that Korea might try to seize resources like Dokdo Island.
According to official sources on the 3rd, President Yoon Suk Yeol’s briefing about the potential oil and gas reserves and the plan to start drilling was a top international news story on major Japanese portal sites. Japan, which relies heavily on imported fossil fuels like oil and gas, is believed to be interested in this development.
Some comments seem skeptical about Korea’s discovery of oil and gas and its drilling plan. One Japanese citizen commented, “I think Korea is trying to propose joint mining to Japan. Then they will force Japan to provide the technology and money for mining, and if it seems like the mining will be successful, they might try to seize it like Dokdo. I wish China would seize them if that happens.” Another person wrote, “The Sea of Japan (East Sea) used to be land (a lake), so it’s not strange to think that the surrounding organisms turned into oil due to tectonic changes. There are no borders for underground resources, so I’m curious if Korea’s drilling area will extend to Japan’s territorial waters.” This comment received over 500 likes.
Earlier, Yoon announced at the presidential office in Yongsan-gu, Seoul, that “there is a high possibility of a vast amount of oil and gas reserves off the coast of Yeongil Bay based on the results of physical exploration.” He added, “We commissioned a deep analysis to a world-class deep-sea technology evaluation company in February last year, believing that there could be more oil around the East Sea gas field.”
Yoon continued, “The results show a very high possibility that up to 14 billion barrels of oil and gas are buried there. This is more than 300 times the size of the East Sea gas field discovered in the late 1990s, and it is estimated that South Korea can use natural gas for up to 29 years and oil for over 4 years. This can be seen as even more than the 11 billion barrels in the Guyana field, this century’s largest oil development project.”
President Yoon approved the Ministry of Trade, Industry, and Energy’s drilling plan based on these exploration results. Drilling could start as early as the end of this year after the preparatory process. The government expects the outline to emerge in the first half of next year.
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