Norway: Idemitsu Wins New Licenses Following Successful Well
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Monday, 23 January 2012 |
Japanese oil firm Idemitsu has moved to acquire an interest in four production licenses for the Norweigan Continental Shelf, following a successful well in the region. Bidding through its Norwegian subsidiary Idemitsu Petroleum Norge AS, the company acquired one license in the Barents Sea and three in the Northern North Sea
The move follows a successful well strike in the 'Knarr Vest' structure, also in Norway, at a depth of approximately 400m. The license is expected to begin production in 2014, with provisional estimated reserves of between 2m and 6m barrels of oil equivalent.
Idemitsu will be among several companies attending the PetrolWorld APAC Business Forum, set to run from February 22 to 24 in Goa, India. The event will bring together executives from international oil companies and solution providers to the downstream sector in a relaxed but productive atmosphere ideal for building relationships and generating opportunities. For more information, visit www.petrolworldforums.com.
PetrolWorld 23012012
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