Idemitsu Kosan Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Akihiko Tembo) announces 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 gas by exploration well 34/12-1 in the "Afrodite" structure in the production license PL293, in which the company owns a 15% 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 373m, approximately 4,300m below sea level and about 30km northwest of the Fram West oil field where production is already underway.
Production test of the exploratory well has confirmed yields of gas and condensate, and evaluation and assessment of reserves will be undertaken in the near future.
Idemitsu acquired its interest of PL293 from Eni Norge in June 2007.
Overview of Block
| License name | PL293 (Block 34/12, 35/7b, 35/10) | ||
|---|---|---|---|
| Participating interests (* Operator) |
Idemitsu Petroleum Norge (IPN) | 15% | |
| * Eni Norge (Italy) | 45% | ||
| StatoilHydro (Norway) | 40% | ||
| Size of license | Approximately 1,067km2 | ||
New Window Open<Reference> Locational map of PL293 (PDF: 321KB)
