The steel plate Grade S355GT st52 of KAR Group is used for the construction of storage tanks for oil works in KAR storage tanks. In this study we have found out the chemical and physical changes of the welded steel plate after the damage happened due to the ISIS attack in Bai-Hassan in Kirkuk. After receiving the samples of burned and heated steel plates, it has been machined the samples for tensile, hardness, chemical analysis and microstructural analysis. The plate thickness is reduced in certain areas of the plate due to oxidation at high temperatures of the material occurred especially at the weld area and the thickness of the plate is found to be between 13 and 18 mm. Due to the coarsening of the microstructure and the development of Widmanstatten ferrite which is a weak and undesirable microstructure has been seen in the microstructure of this steel. Extraction of Acoustic Emission (AE) signal features (magnitude, power, hit, time period and rise period varies with time and the relation between them) will use for identifying the corrosion level and diagnosing the type of corrosion of the steel plates of oil storage tank, and moreover to measure the corrosion severity of the complete storage tank.