"14 Billion Barrels" Announced Despite Ministry Concerns... Ordered Drilling 'Within Term'

[Anchor]

The Board of Audit and Inspection has released the results of its audit into the DONGHAE deep-sea gas field project, also known as the "Blue Whale Project." The audit revealed that the Ministry of Trade, Industry and Energy had continuously voiced concerns regarding former President Yoon Suk Yeol's announcement of a potential reserve of "up to 14 billion barrels."

Choi Jae-yeong reports.

[Reporter]

In June 2024, then-President Yoon Suk Yeol held an unannounced state briefing and made a surprise announcement that there was potential for massive oil and gas reserves off Yeongil Bay in Pohang, North Gyeongsang Province.

[Yoon Suk Yeol / Former President (June 3, 2024): Results showed a very high possibility that oil and gas reserves of up to 14 billion barrels may be buried, and...]

However, an audit conducted by the Board of Audit and Inspection under the current administration revealed that the Ministry of Trade, Industry and Energy, the competent ministry at the time, had repeatedly expressed concerns about publicly announcing the figure of "14 billion barrels."

The ministry advised refraining from promotion, pointing out that the probability of success was less than 20% and that further verification and exploratory drilling were necessary. It even suggested an alternative of describing it as "50 times the existing DONGHAE gas field" instead of using specific numbers if an announcement had to be made, but this suggestion was not reflected.

The Board of Audit and Inspection explained that 14 billion barrels was the most optimistic estimate based on the premise that exploratory drilling across all seven prospective areas would be successful, noting that the probability of success across all seven areas was merely 0.000218%.

The audit also confirmed that former President Yoon instructed officials to move up the drilling schedule to fall within his presidential term.

Upon receiving a report from the ministry that plans called for completing drilling at five of the seven sites after his term, former President Yoon summoned then-Industry Minister Ahn Duk-geun, reprimanded him, and ordered that drilling be completed within his term.

During this exchange, when former Minister Ahn explained that "political judgment is required regarding the drilling schedule," former President Yoon reportedly responded, "Political judgment is something I make."

The Board of Audit and Inspection stated that it did not request disciplinary action against the presidential office or the ministry regarding the "14 billion barrels" announcement or the directive to shorten the drilling schedule, citing a lack of relevant regulations.

However, it identified seven unlawful and improper matters during the project—including the Korea National Oil Corporation's contractor selection and proceeding with drilling without additional verification—and demanded disciplinary action against three individuals involved.

(Video by Park Chun-bae)
※ Please note: This article was translated by AI and may contain errors.