North Korea lacks domestic Petroleum reserves, but the West Korea Bay may contain hydrocarbon reserves, as it is considered to be a geological extension of Chinas Bohai Bay. Offshore exploration concessions previously held by Swedens Taurus Petroleum, Britains Soco, and Australias Beach Petroleum have been allowed to lapse, having failed to find Oil in commercial quantities. Petronas of Malaysia has taken over Block A, previously held by Soco. In November 2001, the North Korean government awarded its first concession for an onshore block to Sovereign Ventures of Singapore, which covers an area in the Tachon-Rajin area near the Chinese border. In September 2002, the company reported that initial seismic survey results had indicated probable oil and Natural Gas deposits of modest size. Exploratory drilling began in 2003, but no information on results has yet been released. Norways Global GeoServices reported in October 2003 that it had signed an agreement for offshore surveys. The company announced that it intends to do seismic survey work. In the meantime, North Korea must import all of the oil it consumes. Oil accounts for about 6% of total North Korean primary energy consumption, and is mostly limited to non-substitutable uses such as motor Gasoline, diesel, and jet fuel. Deliveries of subsidized fuel oil under the Agreed Framework ended in November 2002, after the disclosure of North Koreas nuclear weapons program.