Gas Development with Nippon Mitsubishi group in Malaysia

abarrelfullabarrelfull wrote on 26 Mar 2015 09:56
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October 12, 2000

Teikoku Oil Co., Ltd. (Akira Isono, President) (TOC) is pleased to announce that the company will participate in gas development in Blocks SK-10 and SK-8 in Malaysia which Nippon Mitsubishi group companies are participants.

This joint venture is established based on the basic operational alliance agreed in February, 2000 among Nippon Mitsubishi Oil Corporation (Fumiaki Watari, President)(Nippon Mitsubishi) , TOC and NIPPON OIL EXPLORATION LIMITED. (Kazuo Tomita, President)(NOEX).

Joint Venture Scheme
TOC will participate as shareholders respectively in Nippon Oil Exploration (Malaysia), Ltd. ("NOEX Malaysia" of Block SK-10) and Nippon Oil Exploration (Sarawak), Ltd. ("NOEX Sarawak" of Block SK-8) first by subscribing to the new shares to be issued by each company and to be allotted exclusively to TOC.

Outline of the Blocks

  1. Block SK-10 (relinquished except for the discovered gas fields)
    • Location Approximately 70km northeast off Miri, Sarawak, Malaysia
    • Joint Venture Participants NOEX Malaysia 75.0% (Operator) Carigali 25.0%
    • The largest Gas Field Helang Gas Field
  2. Block SK-8 (relinquished except for the discovered gas fields)
    • Location Approximately 250km northeast off Miri, Sarawak, Malaysia
    • Joint Venture Participants NOEX Sarawak 37.5%, Shell 37.5%(Operator), Carigali 25.0%
    • The largest Gas Field Jintan Gas Field

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