Posted - September 25, 2013 - Kuwait News Agency
Japan's largest oil explorer Inpex Corporation and
major trading house Itochu Corporation said they have jointly participated in
exploration projects in two oilfields in eastern Siberia.
The two firms have bought stakes in a wholly-owned subsidiary of the
government-affiliated Japan Oil, Gas and Metals National Corporation (JOGMEC),
which has been conducting oil and gas exploration works in the
Zapadno-Yaraktinsky and Bolshetirsky blocks, both in Russia's Irkutsk Oblast,
the two firms said in a press release.
As a result of the acquisition, Inpex now owns 12.4 percent and Itochu 12.6
percent, respectively, of the JOGMEC subsidiary's shares. The subsidiary has a
49 percent stake in the joint venture between its Russian partner of Irkutsk
Oil Company, the press release said.
The joint venture had been conducting exploration operations in these two
blocks, where the oil and gas reserves had already been discovered as a result
of exploration activities.
The Zapadno-Yaraktinsky and Bolshetirsky blocks, both onshore, located
about 700 kilometers north of Irkutsk city and cover the area of some 4,800
square kilometers and 3,300 square kilometers respectively.
Post to be found at:
http://www.kuna.net.kw/ArticleDetails.aspx?id=2335564&Language=en
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