Russia has begun oil and gas exploration off the coast of North Korea
Russian experts have begun offshore oil and gas exploration on the North Korean continental shelf in the Sea of Japan.
This was reported by NK News.
According to the publication, specialists from the St. Petersburg-based All-Russian Research Institute of Ocean Geology set out on an expedition aboard the research vessel Pavel Gordienko. In May-June 2026, they are scheduled to conduct gas-hydro-geochemical surveys of the seabed in North Korea’s exclusive economic zone. The expedition will last up to 33 days.
The ship’s last transponder signal was recorded 33 nautical miles east of the port of Rason. Another Russian vessel, the “Ordovik,” which belongs to a subsidiary of “Rosgeo,” is also off the coast of North Korea.
As the publication notes, the exploration began after Moscow decided to allocate nearly $13 million from the budget for the project. In 2023, Moscow and Pyongyang signed a cooperation agreement in the field of hydrocarbon exploration.
The market expects oil prices to rise to $100 per barrel, according to Bloomberg.
Global oil prices rose during trading on Thursday, May 21, partially offsetting the sharp drop of the previous day.
Russian oil is on the rise again, and this is shifting the balance of the Russian Federation’s revenues
