■ SK Earthon held the First Half 2023 Strategy Workshop, attended by about 30 people, including executives and team leaders along with CEO Myeong Seong

■ Shared this year’s core tasks for the company to push forward with and discussed risk management and CCS strategy

■ While maintaining technological competitiveness in the E&P (Exploration & Production) sector, the company will create tangible results in the green business, such as the CCS business

SK Earthon CEO Myeong Seong said, “This year, we must generate tangible results based on the execution of our Financial Story,” and he emphasized, “Let’s build the future of a ‘2030 Carbon Neutral Company’ through visible achievements in E&P (Upstream) and Green business.”

CEO Myeong Seong stated, “The preparation process for executing the Carbon to Green Financial Story is complete” at SK Earthon’s First Half 2023 Strategy Workshop. The workshop, which took place over two days starting on May 9 at the Institute of Global Management (IGM) in Jung-gu, Seoul, was attended by about 30 people, including executives and team leaders, with CEO Myeong among them.

This workshop was organized to share the 2023 business plan and core tasks the company pushes forward with, and to review strategies to enhance the power to implement the Financial Story. Focusing on creating actual results, keynote speeches and group discussions were held on the theme of risk management and CCS (Carbon Capture and Storage) strategy.

SK Earthon is accelerating the Green Transformation by shifting from its conventional E&P-centric business structure to “two axes (Upstream & Green)” to execute the Financial Story. Among these, the CCS business is the starting point of the green business that SK Earthon can do best, based on the company’s resource exploration technology accumulated over the past 40 years.

In the future, SK Earthon plans to maintain its technological edge and operate assets efficiently in the E&P sector. As of the end of last year, SK Earthon has participated in and managed 11 mining blocks and 4 LNG projects in 8 countries. Moreover, in the green sector, it plans to consistently create performances in discovering CCS storage sites through global partnerships, and also to explore new green business items.

In particular, this year, SK Earthon is preparing for oil production in China’s 17/03 mining block, which is the first time among businesses that the company holds operatorship, in the E&P sector. It is in the final stages of preparation, with the goal of starting oil production in the second half of the year. The CCS business is seeking opportunities in Australia and the United States, based on establishing partnerships with companies within the region. In the long term, the CCS business plans to expand into the establishment of “hubs & clusters” through diversification of carbon capture sources and increasing storage capacity, not just securing storage sites.

CEO Myeong Seong said, “SK Earthon possesses the highest level of technology and capability in the exploration sector, and the green business that can best utilize this is the CCS business.” He added, “Let’s create tangible results in the green business, such as the CCS business, and successfully carry out the Green Transformation while maintaining the technological competitiveness in the E&P sector.”

[Photos]

(Photo 1) SK Earthon CEO Myeong Seong opens the company’s 2023 H1 Strategy Workshop held on May 9 and 10.

(Photo 2) SK Earthon CEO Myeong Seong