SEOUL, Feb 6 (Reuters) - South Korea's hopes for a major oil and gas project off its east coast may not be economically feasible, according to initial drilling results, the Yonhap news agency reported on Thursday citing, the energy ministry.

Recent drilling showed some signs of gas prospects but the amount was not believed to be meaningful, Yonhap quoted a vice energy minister as saying.

President Yoon Suk Yeol announced the project in June last year and approved exploratory drilling, saying the area could hold as much as 14 billion barrels of oil and gas.

Energy ministry officials could not be immediately reached for comment on the Yonhap report.

Sign up here.

https://www.reuters.com/business/energy/south-korea-offshore-gas-find-may-not-be-economically-feasible-yonhap-reports-2025-02-06/