Idemitsu Kosan Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Akihiko Tembo) is pleased to announce that its subsidiary, Idemitsu Snorre Oil Development Co., Ltd. (Head Office: Minato-ku, Tokyo; President: Osamu Kamimae)* has discovered, through Idemitsu Petroleum Norge AS (Managing Director: Kosuke Tsuji), an accumulation of oil by exploration well 34/3-1 in the "Jordbaer" structure in the production license PL373S, in which the company owns a 25% interest.
* Shareholders: Idemitsu Oil and Gas Co., Ltd. (50.5%), Osaka Gas Summit Resources (49.5%)
The discovery structure is located at a water depth of 410m, approximately 3,900m below sea level and about 40km northeast of the Snorre oil field where production is already underway.
Production test of the exploratory well has confirmed yields of oil, and evaluation and assessment of reserves will be undertaken in the near future.
Idemitsu acquired its interest of PL373S through the Awards in Predefined Areas (APA) 2005 promoted by the Norwegian government in December 2005.
| License name | PL373S (Block 34/2, 3, 5, 6) | ||
|---|---|---|---|
| Participating interests ●Operator |
Idemitsu Petroleum Norge (IPN) | 25% | |
| ●BG Norge | 45% | ||
| Revus | 20% | ||
| RWE-Dea | 10% | ||
| Size of license | Approximately 330km2 | ||
New Window Open<Reference>Locational map of PL373S（PDF：181KB）
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For inquiries regarding this press release, please contact
Ms. Iinuma
PR Section IR&PR Office
Idemitsu Kosan, Co., Ltd.
Tel: +81-3-3213-3115
