Idemitsu Kosan Co., Ltd. (Head Office: Chiyoda-ku, Tokyo, President: Kazuhisa Nakano) announces that its subsidiary, Idemitsu Snorre Oil Development Co., Ltd.* (Head Office: Minato-ku, Tokyo, President: Yasuhiro Haba) participated in the annual licensing round, Awards in Predefined Area of 2009 (APA 2009), implemented by the Norwegian government in September 2009 through its Norwegian subsidiary Idemitsu Petroleum Norge AS (IPN; President: Kosuke Tsuji) and subsequently has been awarded two licenses (A part of Block 31/2 under PL090E and a part of Block 34/7 under PL552) on January 19.
* Shareholders: Idemitsu Oil and gas Co., Ltd. (50.5%), Osaka Gas Summit Resources (49.5%)
The two awarded licenses are located in the North Sea next to the Snorre and Fram fields respectively where IPN is currently producing crude oil and gas and it is anticipated that this award will lead to the discovery of new oil and gas fields.
Overview of Licenses
| Name | PL090E (Pat of 31/2) |
PL552 (Part of 34/7) |
||
|---|---|---|---|---|
| Location | South of the Fram field | East of the Snorre field | ||
| Participating Interests ●Operator |
Idemitsu Petroleum Norge (IPN) | 15% | Idemitsu Petroleum Norge (IPN) | 12.5% |
| ●Statoil | 45% | ●Statoil | 53.9% | |
| ExxonMobil | 25% | RWE-Dea | 3.6% | |
| GDF Suez | 15% | Petoro | 30.0% | |
| Size of Area | Approximately 15km2 | Approximately 156km2 | ||
| Water Depth | Approximately 350m | Approximately 300m | ||
| Duration of License | Until 2024 (Same as PL090) | 4 years | ||
| Work Responsibilities (First Exploration Period) |
None | One exploratory well within two years | ||
New Window Open<Reference> Location map of acquired area (PDF: 97KB)
For inquiries regarding this press release, please contact
Mr. Yamada
PR Section IR&PR Office
Idemitsu Kosan, Co., Ltd.
Tel: +81-3-3213-3115
