SKorea in talks with ONGC on storage, will expand

SEOUL, Nov 8 (Reuters) State-run Korea National Oil Corp. (KNOC) said on Wednesday it is in talks with India's ONGC to store crude from Russia's Sakhalin-1 field.

KNOC also plans to expand its storage capacity by about 20 percent to 146 million barrels by 2010, said executive vice-president Abraham K. Kim at an industry conference. South Korea signed an agreement last month with Kuwait for joint storage of 2 million barrels of crude oil, adding to the country's emergency stockpile.

REUTERS SBA VV1431