Nippon Oil Exploration Limited (NOEX)

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Address
4th Floor
1 Finsbury Square
London EC2A 1AE
England
Tel +44 (0)20 7309 7650
Fax +44 (0)20 7309 7676
Web http://www.noex.co.jp

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Nippon Oil will invest at least 260 billion yen (US$2.13 billion) in upstream oil and gas projects for three years to March 2011, with plans to shift its focus from producing fields to exploration and development. The revised investment includes Nippon's recent acquisition of the K2 oil and gas field in the Gulf of Mexico from Anadarko Petroleum. Nippon, along with Mitsubishi Corporation, paid $1.2 billion for a 23.2% stake in the field, which produces 40,000 barrels of oil equivalent per day. Geographically Nippon will focus on the Gulf of Mexico and Vietnam, where the company will start commercial production at the Phuong Dong field in September 2008.

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Japan
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Vietnam
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