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Idemitsu Enters the Oil Exploration and Production

In order to secure petroleum resources, in March 1966 Idemitsu made a full-fledged entry to the oil exploration and production business by applying for exploratory drilling rights on the Japan Sea continental shelf.
In March 1972, it successfully struck oil for the first time off the coast of Niigata, and in September 1976 it began production at the Aga oil and gas field, Japan's first full-fledged undersea oil field.
Currently, within the Idemitsu Group Idemitsu Oil & Gas is responsible for overseas exploration and development while Idemitsu Oil Development is responsible for domestic exploration and development. The Group currently produces oil and gas from fields such as the Snorre Field in the Norwegian North Sea (producing 220,000 barrels/day, with Idemitsu holding a 10% interest) and the Iwafune-Oki Oil Field. As it aims to diversify its supply sources further, Idemitsu is advancing exploration and development projects centered on the Asian and Pacific regions.
A platform in the Iwafune-Oki Oil Field
A platform in the Iwafune-Oki Oil Field
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