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 oil by exploration well in the "Vigdis North East" structure in the production license PL089, in which the company owns a 9.6% 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 290m, approximately 2,350m below sea level and north-east of the Vigdis oil field where production is already underway.
Exploration results have confirmed estimated reserves of about 25 million barrels, and a detailed evaluation and assessment of reserves will be undertaken in the near future.
As for the production license PL089, production is already underway in a total of five oil fields including the Snorre and Vigdis oil fields.
Overview of Block
| License name | PL089 | ||
|---|---|---|---|
| Participating interests (* Operator) |
Idemitsu Petroleum Norge (IPN) | 9.6% | |
| * StatoilHydro | 41.5% | ||
| Petoro | 30.0% | ||
| ExxonMobil | 10.5% | ||
| Total | 5.6% | ||
| RWE-Dea | 2.8% | ||
| Size of license | Approximate 320km2 | ||
New Window Open<Reference> Locational map of PL089 (PDF: 335KB)
For inquiries regarding this press release, please contact
Mr. Yamada
PR Section IR&PR Office
Idemitsu Kosan, Co., Ltd.
Tel: +81-3-3213-3115
