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SK Earthon secures operatorship of Ketapu Cluster off the coast of Sarawak, Malaysia, expanding operations in Southeast Asia
■ Marks second major achievement in Malaysia following the SK427 block, showcasing technical and operational prowess
■ Accelerates oil and gas exploration and production projects across Southeast Asia, including China, Vietnam, and now Malaysia
SK Earthon, SK Innovation's subsidiary for petroleum exploration and production, has once again demonstrated its 40 years of accumulated expertise in the oil and gas exploration and production business in Southeast Asia.
SK Earthon announced on the 8th (KST) that it had signed a Production Sharing Contract* (PSC) with PETRONAS, through Malaysia Petroleum Management (MPM) for the Ketapu Cluster, located off the coast of Sarawak, offshore Malaysia.
*Production Sharing Contract (PSC): A common type of mineral rights agreement in major Asian oil-producing countries, where the contractor bears the costs and risks of exploration and development, and the produced oil and gas are shared between the local government and the contractor based on a pre-agreed ratio.
SK Earthon was selected as the winning bidder for the Ketapu Cluster through Malaysia Bid Round (MBR+) Round 1, organized by MPM in October 2023.
SK Earthon will hold 85% participating interest in the PSC, including operatorship, while the remaining 15% will be held by PSEP (Petroleum Sarawak Exploration and Production Sdn Bhd), a wholly owned subsidiary of PETROS, which is the state-owned company of Sarawak, Malaysia.
The Ketapu Cluster comprises four discovered resource opportunities that have identified oil and gas discoveries but have not been developed yet. It is located within the SK427 block area, for which SK Earthon acquired operation rights in April 2022.
PETRONAS has granted SK Earthon a four-year development period and a 20-year production period. The company plans to conduct the development feasibility study by 2025.
Potential synergies between the SK427 block and the Ketapu Cluster are also expected. SK Earthon plans to explore development opportunities by leveraging the connection between these blocks.
This contract is a significant achievement as it recognizes SK Earthon's technical and operational capabilities on an international level. It also marks the establishment of SK Earthon's position and growth foundation as an operator in Malaysia, following successes in China and Vietnam.
SK Innovation and its affiliates, including SK Earthon, have been involved in the Oil & Gas exploration and production business since 1983. The company is currently participating in 10 blocks and 3 LNG projects across 8 countries, producing approximately 57,000 barrels of oil equivalent per day.
[Reference 1] Location map of SK Earthon's oil fields in Malaysia
[Reference 2] Current status of oil fields under exploration, development, and production by SK Earthon in Southeast Asia
[Reference 3] Annual performance of SK Innovation’s E&P business (2020 to H1 2024)
(Unit: KRW 100 million )
2020
2021
2022
2023
H1 2024
Revenue
4,448
8,817
15,264
11,261
7,420
Operating Income
1,437
3,284
6,415
3,683
2,965
■ Related articles
- SK Earthon completed its first shipment of crude oil produced at China’s Block 17/03
- SK Earthon successfully discovers crude oil from Block 16-2 in Vietnam
- SK Earthon signs Production Sharing Contract for Block SK 427 offshore Malaysia with Petronas and PSEP
2024. 09. 08
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Shifts and shutters: How Łukasz Grudzień balances work at SKBMP with his love for dog photography
At SK Innovation and its affiliates, we believe that a balanced life fuels both personal happiness and professional success. As an overseas subsidiary of SK IE Technology, SK hi-tech battery materials Poland (SKBMP) is proud to be home to team members who are not just experts in their field, but also passionate individuals with rich hobbies and diverse interests. Today, we're excited to spotlight Łukasz Grudzień, a dedicated Shift Leader in our CCS Production department, whose unique blend of technical expertise and artistic talent perfectly embodies this balance. Join us as we explore Łukasz’s inspiring journey from battery materials to breathtaking dog photography.
*CCS: Ceramic Coated Separator, a technology that applies a fine ceramic layer on the separator, which reduces the risk of fire by preventing deformation or contraction of the separator as much as possible despite the heat emitted from large batteries. SK IE Technology’s CCS is self-developed by the company.
Hello, I’m Łukasz Grudzień, and I’ve been a proud member of SK hi-tech battery materials Poland (SKBMP) for over three years. In my role as a Shift Leader in the CCS Production department, I oversee a team of 18 employees. Our primary task is the application of ceramic coating to battery separators.
While my professional life keeps me busy, my true passion lies in photography—a hobby that is incredibly fulfilling. Thanks to the shift system at SKBMP, I've been able to dedicate substantial time to this creative pursuit.
Initially, my photographic interests were centered around landscapes and various subjects. However, my focus shifted dramatically after attending a dog show. It was there I experienced an epiphany: "This is it! This is my place on Earth!” Since that transformative moment over five years ago, I have dedicated myself wholeheartedly to dog photography.
Dogs possess a unique ability to evoke feelings of calm and relaxation in people, and I feel the same serene energy when photographing them. Through my dog photos, I aim to share this healing energy with others. This work brings me immense joy and fulfillment.
My ambitious goal is to photograph all the dog breeds in the world. Nearly a year ago, I launched a project called "Rasowa Fotka," which translates to “Purebred Pics.” This project aims to celebrate and promote every dog breed. So far, my studio has welcomed 150 different breeds, and that number continues to grow each month. Considering there are approximately 470 recognized dog breeds worldwide, I anticipate traveling to various countries to complete this project, since many breeds are not available in Poland.
In addition to my work on "Rasowa Fotka," I regularly collaborate with a shelter in Katowice. Dogs from the shelter visit my studio for photo sessions, and the resulting images are shared on the shelter’s social media platforms. I am proud to say that many of these photographs have played a role in finding new homes for the dogs.
For those interested in learning more about my work, simply search “fotograf na 4 łapy” (“four paws photographer”) or “psi fotograf Jaworzno” (“dog photographer in Jaworzno”). You will find all the information you need about my photography and view my portfolio. Feel free to contact me if you’d like to connect or collaborate.
▲ Łukasz Grudzień’s Instagram account
■ Related articles
- “The power of perseverance and self-belief to push boundaries” – Stories shared by SK Innovation female members
- Let’s go plogging and planting with SKBMP, a SK IE Technology’s subsidiary in Poland
- Zaneta Kaniecka, HR Specialist, SK hi-tech battery materials Poland, SK IE Technology
2024. 09. 06
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SK Innovation and SK E&S merger approved with resounding support, launching Asia-Pacific's largest private energy firm at KRW 100 trillion
■ The merger agreement was approved with 85.75% support from the attending shareholders at the Extraordinary General Meeting held on August 27
■ CEO Park Sang-kyu stated, "We will do our utmost to ensure the smooth completion of the merger and actively review and implement various shareholder-friendly policies following the merger's completion."
The merger between SK Innovation and SK E&S has received strong approval at the Extraordinary General Meeting, paving the way for the creation of a colossal domestic energy company with assets worth KRW 100 trillion and revenues of KRW 88 trillion.
On the 27th, SK Innovation held an Extraordinary General Meeting at the SK Seorin Building in Jongno-gu, Seoul, where the merger agreement was ratified with an 85.75% approval rate from the attending shareholders. The company announced that the merger plan was approved with an unprecedented level of backing.
The merger required a special resolution, necessitating the consent of at least two-thirds of the attending shareholders as well as one-third of the total issued shares. The proposal gained significant support from the majority of shareholders. Notably, the world’s leading proxy advisory firms, ISS and Glass Lewis, recommended approval of the merger, resulting in 95% of foreign shareholders actively supporting the plan.
With the merger now approved, the newly combined entity is set to officially launch on November 1st.
Earlier, on July 17th, both SK Innovation and SK E&S conducted board meetings to pass the merger proposal. This strategic decision was made to proactively address uncertain internal and external environments and to establish a robust growth foundation for future energy businesses. SK Innovation, which recorded an operating profit of KRW 1.9 trillion last year, and SK E&S, with an operating profit of KRW 1.33 trillion, determined that a merger was the optimal path forward.
The formation of the new entity will create the largest private energy company in the Asia-Pacific region, with assets totaling KRW 100 trillion and revenues of KRW 88 trillion. The merger is anticipated to enhance the competitiveness of the energy portfolio by integrating SK Innovation's oil and battery businesses with SK E&S’s liquefied natural gas (LNG) and renewable energy businesses. In the long run, the merged company aims to evolve into a corporate that provides comprehensive Energy Solution Package tailored to global energy market demands.
Furthermore, the merger is expected to create a stable financial and profit structure. By merging with SK E&S, a company that generates consistent profits from LNG and power operations, the newly combined entity is set to increase revenue stability and strengthen financial robustness through significantly enhanced profitability. SK Innovation forecasts that the synergy from the merger will exceed an EBITDA of KRW 2.2 trillion by 2030, with an overall EBITDA target of KRW 20 trillion.
Park Sang-kyu, CEO of SK Innovation, stated, "We will do our utmost to ensure that this merger, which will serve as a foundation for the company's long-term stability and growth, is carried out smoothly.” “Furthermore, we will actively review and implement various shareholder-friendly policies following the completion of the merger," he added.
[Photos]
(Photo 1, 2) Park Sang-kyu, CEO of SK Innovation, delivers a greeting at the Extraordinary General Meeting held at the SK Seorin Building in Jongno-gu, Seoul, on the 27th
(Photo 3) "Park Sang-kyu, CEO of SK Innovation, declares the adjournment at the Extraordinary General Meeting held at the SK Seorin Building in Jongno-gu, Seoul, on the 27th
■ Related articles
- SK Innovation enhances shareholder communication ahead of merger with SK E&S
- Leading global proxy advisory agencies back the merger of SK Innovation and SK E&S
- SK Innovation and SK E&S announce merger, forming Asia-Pacific's largest private energy company with assets of KRW 100 trillion
2024. 08. 27
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SK Earthon
 SK Earthon secures operatorship of Ketapu Cluster off the coast of Sarawak, Malaysia, expanding operations in Southeast Asia
■ Marks second major achievement in Malaysia following the SK427 block, showcasing technical and operational prowess
■ Accelerates oil and gas exploration and production projects across Southeast Asia, including China, Vietnam, and now Malaysia
SK Earthon, SK Innovation's subsidiary for petroleum exploration and production, has once again demonstrated its 40 years of accumulated expertise in the oil and gas exploration and production business in Southeast Asia.
SK Earthon announced on the 8th (KST) that it had signed a Production Sharing Contract* (PSC) with PETRONAS, through Malaysia Petroleum Management (MPM) for the Ketapu Cluster, located off the coast of Sarawak, offshore Malaysia.
*Production Sharing Contract (PSC): A common type of mineral rights agreement in major Asian oil-producing countries, where the contractor bears the costs and risks of exploration and development, and the produced oil and gas are shared between the local government and the contractor based on a pre-agreed ratio.
SK Earthon was selected as the winning bidder for the Ketapu Cluster through Malaysia Bid Round (MBR+) Round 1, organized by MPM in October 2023.
SK Earthon will hold 85% participating interest in the PSC, including operatorship, while the remaining 15% will be held by PSEP (Petroleum Sarawak Exploration and Production Sdn Bhd), a wholly owned subsidiary of PETROS, which is the state-owned company of Sarawak, Malaysia.
The Ketapu Cluster comprises four discovered resource opportunities that have identified oil and gas discoveries but have not been developed yet. It is located within the SK427 block area, for which SK Earthon acquired operation rights in April 2022.
PETRONAS has granted SK Earthon a four-year development period and a 20-year production period. The company plans to conduct the development feasibility study by 2025.
Potential synergies between the SK427 block and the Ketapu Cluster are also expected. SK Earthon plans to explore development opportunities by leveraging the connection between these blocks.
This contract is a significant achievement as it recognizes SK Earthon's technical and operational capabilities on an international level. It also marks the establishment of SK Earthon's position and growth foundation as an operator in Malaysia, following successes in China and Vietnam.
SK Innovation and its affiliates, including SK Earthon, have been involved in the Oil & Gas exploration and production business since 1983. The company is currently participating in 10 blocks and 3 LNG projects across 8 countries, producing approximately 57,000 barrels of oil equivalent per day.
[Reference 1] Location map of SK Earthon's oil fields in Malaysia
[Reference 2] Current status of oil fields under exploration, development, and production by SK Earthon in Southeast Asia
[Reference 3] Annual performance of SK Innovation’s E&P business (2020 to H1 2024)
(Unit: KRW 100 million )
2020
2021
2022
2023
H1 2024
Revenue
4,448
8,817
15,264
11,261
7,420
Operating Income
1,437
3,284
6,415
3,683
2,965
■ Related articles
- SK Earthon completed its first shipment of crude oil produced at China’s Block 17/03
- SK Earthon successfully discovers crude oil from Block 16-2 in Vietnam
- SK Earthon signs Production Sharing Contract for Block SK 427 offshore Malaysia with Petronas and PSEP
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PEOPLE & CULTURE
Shifts and shutters: How Łukasz Grudzień balances work at SKBMP with his love for dog photography
At SK Innovation and its affiliates, we believe that a balanced life fuels both personal happiness and professional success. As an overseas subsidiary of SK IE Technology, SK hi-tech battery materials Poland (SKBMP) is proud to be home to team members who are not just experts in their field, but also passionate individuals with rich hobbies and diverse interests. Today, we're excited to spotlight Łukasz Grudzień, a dedicated Shift Leader in our CCS Production department, whose unique blend of technical expertise and artistic talent perfectly embodies this balance. Join us as we explore Łukasz’s inspiring journey from battery materials to breathtaking dog photography.
*CCS: Ceramic Coated Separator, a technology that applies a fine ceramic layer on the separator, which reduces the risk of fire by preventing deformation or contraction of the separator as much as possible despite the heat emitted from large batteries. SK IE Technology’s CCS is self-developed by the company.
Hello, I’m Łukasz Grudzień, and I’ve been a proud member of SK hi-tech battery materials Poland (SKBMP) for over three years. In my role as a Shift Leader in the CCS Production department, I oversee a team of 18 employees. Our primary task is the application of ceramic coating to battery separators.
While my professional life keeps me busy, my true passion lies in photography—a hobby that is incredibly fulfilling. Thanks to the shift system at SKBMP, I've been able to dedicate substantial time to this creative pursuit.
Initially, my photographic interests were centered around landscapes and various subjects. However, my focus shifted dramatically after attending a dog show. It was there I experienced an epiphany: "This is it! This is my place on Earth!” Since that transformative moment over five years ago, I have dedicated myself wholeheartedly to dog photography.
Dogs possess a unique ability to evoke feelings of calm and relaxation in people, and I feel the same serene energy when photographing them. Through my dog photos, I aim to share this healing energy with others. This work brings me immense joy and fulfillment.
My ambitious goal is to photograph all the dog breeds in the world. Nearly a year ago, I launched a project called "Rasowa Fotka," which translates to “Purebred Pics.” This project aims to celebrate and promote every dog breed. So far, my studio has welcomed 150 different breeds, and that number continues to grow each month. Considering there are approximately 470 recognized dog breeds worldwide, I anticipate traveling to various countries to complete this project, since many breeds are not available in Poland.
In addition to my work on "Rasowa Fotka," I regularly collaborate with a shelter in Katowice. Dogs from the shelter visit my studio for photo sessions, and the resulting images are shared on the shelter’s social media platforms. I am proud to say that many of these photographs have played a role in finding new homes for the dogs.
For those interested in learning more about my work, simply search “fotograf na 4 łapy” (“four paws photographer”) or “psi fotograf Jaworzno” (“dog photographer in Jaworzno”). You will find all the information you need about my photography and view my portfolio. Feel free to contact me if you’d like to connect or collaborate.
▲ Łukasz Grudzień’s Instagram account
■ Related articles
- “The power of perseverance and self-belief to push boundaries” – Stories shared by SK Innovation female members
- Let’s go plogging and planting with SKBMP, a SK IE Technology’s subsidiary in Poland
- Zaneta Kaniecka, HR Specialist, SK hi-tech battery materials Poland, SK IE Technology
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SK Innovation
SK Innovation and SK E&S merger approved with resounding support, launching Asia-Pacific's largest private energy firm at KRW 100 trillion
■ The merger agreement was approved with 85.75% support from the attending shareholders at the Extraordinary General Meeting held on August 27
■ CEO Park Sang-kyu stated, "We will do our utmost to ensure the smooth completion of the merger and actively review and implement various shareholder-friendly policies following the merger's completion."
The merger between SK Innovation and SK E&S has received strong approval at the Extraordinary General Meeting, paving the way for the creation of a colossal domestic energy company with assets worth KRW 100 trillion and revenues of KRW 88 trillion.
On the 27th, SK Innovation held an Extraordinary General Meeting at the SK Seorin Building in Jongno-gu, Seoul, where the merger agreement was ratified with an 85.75% approval rate from the attending shareholders. The company announced that the merger plan was approved with an unprecedented level of backing.
The merger required a special resolution, necessitating the consent of at least two-thirds of the attending shareholders as well as one-third of the total issued shares. The proposal gained significant support from the majority of shareholders. Notably, the world’s leading proxy advisory firms, ISS and Glass Lewis, recommended approval of the merger, resulting in 95% of foreign shareholders actively supporting the plan.
With the merger now approved, the newly combined entity is set to officially launch on November 1st.
Earlier, on July 17th, both SK Innovation and SK E&S conducted board meetings to pass the merger proposal. This strategic decision was made to proactively address uncertain internal and external environments and to establish a robust growth foundation for future energy businesses. SK Innovation, which recorded an operating profit of KRW 1.9 trillion last year, and SK E&S, with an operating profit of KRW 1.33 trillion, determined that a merger was the optimal path forward.
The formation of the new entity will create the largest private energy company in the Asia-Pacific region, with assets totaling KRW 100 trillion and revenues of KRW 88 trillion. The merger is anticipated to enhance the competitiveness of the energy portfolio by integrating SK Innovation's oil and battery businesses with SK E&S’s liquefied natural gas (LNG) and renewable energy businesses. In the long run, the merged company aims to evolve into a corporate that provides comprehensive Energy Solution Package tailored to global energy market demands.
Furthermore, the merger is expected to create a stable financial and profit structure. By merging with SK E&S, a company that generates consistent profits from LNG and power operations, the newly combined entity is set to increase revenue stability and strengthen financial robustness through significantly enhanced profitability. SK Innovation forecasts that the synergy from the merger will exceed an EBITDA of KRW 2.2 trillion by 2030, with an overall EBITDA target of KRW 20 trillion.
Park Sang-kyu, CEO of SK Innovation, stated, "We will do our utmost to ensure that this merger, which will serve as a foundation for the company's long-term stability and growth, is carried out smoothly.” “Furthermore, we will actively review and implement various shareholder-friendly policies following the completion of the merger," he added.
[Photos]
(Photo 1, 2) Park Sang-kyu, CEO of SK Innovation, delivers a greeting at the Extraordinary General Meeting held at the SK Seorin Building in Jongno-gu, Seoul, on the 27th
(Photo 3) "Park Sang-kyu, CEO of SK Innovation, declares the adjournment at the Extraordinary General Meeting held at the SK Seorin Building in Jongno-gu, Seoul, on the 27th
■ Related articles
- SK Innovation enhances shareholder communication ahead of merger with SK E&S
- Leading global proxy advisory agencies back the merger of SK Innovation and SK E&S
- SK Innovation and SK E&S announce merger, forming Asia-Pacific's largest private energy company with assets of KRW 100 trillion
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SK Energy to start sustainable aviation fuel (SAF) commercial production
■ Commencing commercial production next month with a dedicated SAF production line using co-processing methods; utilizing bio-feedstocks such as used cooking oil and animal fat to continuously produce SAF and other low-carbon products ■ Achieved multiple certifications including ISCC CORSIA/EU/PLUS for SAF sales in June ■ Said to continue to monitor both domestic and international SAF policies and market conditions closely to explore further expansion of SAF production capabilities On September 11 (KST), SK Energy, the largest refiner in South Korea and a subsidiary of SK Innovation, announced today the completion of the nation’s first dedicated Sustainable Aviation Fuel (SAF) production line. The new facility, which leverages advanced co-processing technology, is set to commence commercial production next month. This marks a significant milestone in the company’s ongoing efforts to lead the rapidly expanding SAF market, a burgeoning field within the refining industry. SAF is a type of aviation biofuel with similar chemical properties to jet fuels but a smaller carbon footprint. The co-processing method-based SAF production line integrates bio-feedstocks with traditional oil production processes, allowing simultaneous production of petroleum and low-carbon products. A dedicated five-kilometer pipeline is installed to feed bio-feedstocks continuously into the oil product manufacturing process, enabling continuous SAF production. Once commercial production starts, SK Energy will complete a value chain encompassing raw material procurement, production, and sales for the SAF business. Last year, SK Trading International, another SK Innovation subsidiary, invested in waste-based raw material suppliers to ensure a consistent supply of bio-feedstocks. Furthermore, SK Energy is collaborating with Infinium to develop e-fuel technologies that utilize green hydrogen and carbon dioxide. In June, SK Energy achieved multiple critical certifications to support SAF production and sales, including ISCC CORSIA, which officially recognizes SAF production for the international aviation sector. The company also secured ISCC EU certification under the European Union’s Renewable Energy Directive (RED) and ISCC PLUS certification for environmentally friendly products in the voluntary market. Starting early next year, SK Energy will supply SAF to Korean Air passenger flights, a pivotal move that aligns with the company’s broader strategy for market expansion. This initiative follows a recent event on August 30 at Incheon International Airport where SK Energy, the Ministry of Trade, Industry and Energy, the Ministry of Land, Infrastructure and Transport, Incheon International Airport Corporation, and Korean Air celebrated the commercial operation of domestically produced SAF. The global SAF market is poised for tremendous growth. According to the International Air Transport Association (IATA), global SAF demand is projected to increase nearly 70-fold, from 240,000 tons in 2022 to 18.35 million tons by 2030. Domestically, the Korean government plans to mandate SAF blending in all international flights departing from Korea starting in 2027. “As the first company in Korea to achieve continuous SAF production through co-processing, we are well-prepared to meet the upcoming mandatory SAF blending requirements,” said Hong Kwang-pyo, Head of Strategy Division at SK Energy. “We will continue to monitor both domestic and international SAF policies and market conditions closely to explore further expansion of our SAF production capabilities.” [Photo 1,2] Panoramic view of SK Energy’s facility for continuous SAF production via co-processing, using bio-feedstocks delivered through newly invested dedicated tanks and pipelines ■ Related articles - SK Trading International invests in Daekyung O&T to secure bio-aviation fuel raw materials - [SKinno Tech] Aviation Fuel
2024. 09. 11
LATEST
SK Energy to start sustainable aviation fuel (SAF) commercial production
■ Commencing commercial production next month with a dedicated SAF production line using co-processing methods; utilizing bio-feedstocks such as used cooking oil and animal fat to continuously produce SAF and other low-carbon products ■ Achieved multiple certifications including ISCC CORSIA/EU/PLUS for SAF sales in June ■ Said to continue to monitor both domestic and international SAF policies and market conditions closely to explore further expansion of SAF production capabilities On September 11 (KST), SK Energy, the largest refiner in South Korea and a subsidiary of SK Innovation, announced today the completion of the nation’s first dedicated Sustainable Aviation Fuel (SAF) production line. The new facility, which leverages advanced co-processing technology, is set to commence commercial production next month. This marks a significant milestone in the company’s ongoing efforts to lead the rapidly expanding SAF market, a burgeoning field within the refining industry. SAF is a type of aviation biofuel with similar chemical properties to jet fuels but a smaller carbon footprint. The co-processing method-based SAF production line integrates bio-feedstocks with traditional oil production processes, allowing simultaneous production of petroleum and low-carbon products. A dedicated five-kilometer pipeline is installed to feed bio-feedstocks continuously into the oil product manufacturing process, enabling continuous SAF production. Once commercial production starts, SK Energy will complete a value chain encompassing raw material procurement, production, and sales for the SAF business. Last year, SK Trading International, another SK Innovation subsidiary, invested in waste-based raw material suppliers to ensure a consistent supply of bio-feedstocks. Furthermore, SK Energy is collaborating with Infinium to develop e-fuel technologies that utilize green hydrogen and carbon dioxide. In June, SK Energy achieved multiple critical certifications to support SAF production and sales, including ISCC CORSIA, which officially recognizes SAF production for the international aviation sector. The company also secured ISCC EU certification under the European Union’s Renewable Energy Directive (RED) and ISCC PLUS certification for environmentally friendly products in the voluntary market. Starting early next year, SK Energy will supply SAF to Korean Air passenger flights, a pivotal move that aligns with the company’s broader strategy for market expansion. This initiative follows a recent event on August 30 at Incheon International Airport where SK Energy, the Ministry of Trade, Industry and Energy, the Ministry of Land, Infrastructure and Transport, Incheon International Airport Corporation, and Korean Air celebrated the commercial operation of domestically produced SAF. The global SAF market is poised for tremendous growth. According to the International Air Transport Association (IATA), global SAF demand is projected to increase nearly 70-fold, from 240,000 tons in 2022 to 18.35 million tons by 2030. Domestically, the Korean government plans to mandate SAF blending in all international flights departing from Korea starting in 2027. “As the first company in Korea to achieve continuous SAF production through co-processing, we are well-prepared to meet the upcoming mandatory SAF blending requirements,” said Hong Kwang-pyo, Head of Strategy Division at SK Energy. “We will continue to monitor both domestic and international SAF policies and market conditions closely to explore further expansion of our SAF production capabilities.” [Photo 1,2] Panoramic view of SK Energy’s facility for continuous SAF production via co-processing, using bio-feedstocks delivered through newly invested dedicated tanks and pipelines ■ Related articles - SK Trading International invests in Daekyung O&T to secure bio-aviation fuel raw materials - [SKinno Tech] Aviation Fuel
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