Mining area for exploration, development, and production
Idemitsu Kosan conducts exploration, development, and production operations in Europe and Southeast Asia to secure oil and natural gas Resources.
Southeast Asia (Vietnam, Thailand, Cambodia)
In Vietnam, our wholly owned subsidiary, Idemitsu Gas Production (Vietnam) Co., Ltd., is the operator and is producing from two oil fields.
In Thailand and Cambodia, we are conducting development with the aim of acquiring further promising mining areas. Numerous oil and gas fields have already been discovered in the Thai and Cambodian territories, and this mining area is on the verge of their establishment. Therefore, the possibility of discovering oil and gas is evaluated to be extremely high.
Vietnam: Saobang gas field and Dai Nguyet gas field off the coast of Vietnam
The Saobang Dai Nguyet gas field, located 350 km southeast of Ho Chi Minh City, was discovered as a result of exploration work based on the production sharing agreement for the 05-1b and 05-1c blocks that we concluded with PetroVietnam in 2004. is. In 2017, we received approval from the Vietnamese government for an integrated gas field development plan and proceeded with development, commencing production at the Sao Bang gas field in November 2020 and the Dai Guet gas field in November 2022.
Idemitsu Gas Production (Vietnam) Co., Ltd., a wholly owned subsidiary of our company, is the operator.
Interest structure
| Idemitsu Gas Production (Vietram) Co., Ltd. (Operator) | 43.08% |
|---|---|
| INPEX Con Son Co., Ltd. | 36.92% |
| Vietnam Oil and Gas Group (PetroVietnam) | 20.00% |
Thailand: Offshore Thailand Block 5&6
In 1972, we acquired a 50% interest in the northern Gulf of Thailand block, which includes this block, and conducted exploration activities including test drilling of four wells. Currently, we hold interests in a portion of this block that is planned for future joint development between Thailand and Cambodia.
Interest structure
| Idemitsu Kosan Co.,Ltd. | 50% |
|---|---|
| Mitsui Oil Exploration Co., Ltd. (MOECO) | 20% |
| Chevron Thailand Exploration & Production, Ltd. (Chevron) | 20% |
| Chevron Blocks 5 and 6 Ltd. (Chevron) (Operator) | 10% |
Cambodia: Off the coast of Cambodia Area I&II
The interest was acquired through an international bidding conducted by the Cambodian government in 1996. The following year, we signed a conditional oil contract with the Cambodian government and acquired Areas I and II with Conoco (now ConocoPhillips).
Interest structure
| Idemitsu Kosan Co.,Ltd. | 33.33% |
|---|---|
| ConocoPhillips Cambodia E&P BV (Operator) | 66.67% |
Norway
In 1989, we acquired an interest in the Snorre oil field and entered the oil development business in Norwegian territorial waters. From 2022, we will be conducting business through INPEX Idemitsu Norge AS, a Norwegian subsidiary jointly established with INPEX Co., Ltd. (our ownership stake: 49.5%).
Snorre oil field
This offshore oil field is located in the Norwegian North Sea (300-350m deep), 200km northwest of the city of Bergen in western Norway. This oil field was discovered in 1979 and production began in 1992 from the tension leg Snorre TLP (offshore production facility). In 2001, we installed the semi-submersible Snorre B platform in the northern part of the oil field.
A portion of the electricity used for production activities comes from renewable energy generated by floating offshore wind facilities. Power transmission will begin in August 2023, and this initiative is the first in the world to utilize offshore wind power generation for oil field production activities.
Tordis/Bygdis oil fields
It is located to the south of the Snorre oil field and was discovered through exploration work carried out after the discovery of the Snorre oil field. We produce oil and gas using offshore production equipment.
Fram oil fields
Production began in October 2003 at an offshore oil field located in the Norwegian North Sea (350m deep), approximately 120km offshore from the city of Bergen in western Norway. In addition, the Vega gas field began production in 2010, the H Nord oil field in 2014, and the Büldin oil field in 2017. We produce oil and gas using offshore production equipment.
Duva oil and gas field
The Duva oil and gas field is located northeast of the Fram field complex and began production in 2021. Oil and gas are produced using offshore production equipment connected to the nearby Yoa oil field production equipment.