Hyundai Corporation has an excellent record of successfully investing in the development of energy and resources such as coal, oil and gas. The bituminous coal mining project in Drayton, Australia in 1981, which was the first overseas resource development project by a Korean company, the oilfield development project in Marib, Yemen, the LNG development project in Oman and Qatar, and the sea mining project in 11-2 Mine Lot in Vietnam are some of the few major projects developed by Hyundai Corporation.
In April, 2011, Hyundai Corporation, Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Oil Bank established Hyundai Energy and Resources Co., Ltd, which specializes in the natural resources development business. Utilizing our over 30 years of business experience, we will continue to promote the exploration and the development of energy and mineral resources.

Australia Drayton bituminous coal mine development project, which Hyundai Corporation participated with 2.5% share in 1979 as the first overseas resources development project in Korea, is producing about 5 million tons of bituminous coal a year until now from 1983, and it is evaluated as a successful project that contributed greatly to the stabilization of the Korea coal supply for the last 30 years. Currently we are carrying out Drayton south bituminous coal exploration near Drayton coal mine.

Yemen Marib Oilfield, which we participated with Korea National Oil Corporation, SK, Samhwan Corporation, etc., with 2.45% share in 1984, is a mega oilfield with 1 billion barrel of deposit, and it has been assessed as the most successful project among Korea’s petroleum development projects. Hyundai Corporation also participated in the petroleum development project in Libya with a large scale deposit found in 1999 and achieved a big profit by selling the shares afterwards.