A Korean state-owned fossil fuel company that explores for fossil gas off the coast of Gaza.
Scottish oil and gas company Dana Petroleum is a subsidiary of Korea National Oil Corporation, which is owned by the government of South Korea.
It also explores for offshore fossil gas for Israel, in the territorial waters of Palestine. In October 2023, shortly after the start of the Gaza genocide, Israel approved a joint bid for offshore gas exploration by Dana Petroleum in consortium with Italian company Eni and Israeli company Ratio Energies.
This exploration license is for an area in the Mediterranean Sea (Zone G) located off the coast of the Gaza Strip. Most (62%) of Zone G falls within the declared territorial waters of the State of Palestine. In February 2024, three leading Palestinian human rights organizations notified Dana Petroleum that is must “desist from undertaking any activities in areas of Zone G that Palestine claims, as any such activities would constitute a flagrant violation of international law.”
Israel’s Energy Minister took pride in the fact that the licenses were given while Israel is at war, saying that this shows how “major natural gas exploration companies put their trust in Israel's robustness,” even though the companies bid for the licenses months before October 2023. He added that the “companies have committed to unprecedented investment in natural gas exploration over the next three years, which would hopefully result in the discovery of new natural gas reservoirs. That in turn will solidify Israel's energy security, enhance the country's international relations, contribute to reduction in the cost of living, and form a secure backup energy source in order to accelerate the transition to renewable energies.”