Idemitsu Kosan : Acquisition of Licenses in APA2011 Licensing Round for Norwegian Continental Shelf
January 18, 2012 at 02:31 am
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January,18,2012
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)*1 participated
in the APA2011 Licensing Round implemented by the Norwegian
government in September 2011 through its Norwegian
subsidiary Idemitsu Petroleum Norge AS (President: Teruyuki
Takahashi) and subsequently acquired interest of four
production licenses on January 17, 2012.
*1 Shareholders: Idemitsu Oil & Gas Co., Ltd. (50.5%),
Osaka Gas Summit Resources (49.5%)
The one license within four is located in the Barents Sea
and other three are in the Northern North Sea. The two
licenses in the Northern North Sea are adjacent to the
Fram oil field where productions are already underway,
and one is around the Knarr oil field where the
development works are on-going. The license in the
Barents Sea is awarded, being regarded as an extension of
existing license of PL 609 which is adjacent to it.
For inquiries regarding this press release, please
contact
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Idemitsu Kosan Co., Ltd. is specialized in the production and refining of petroleum products. Net sales break down by category as follows:
- refining of petroleum products (78.8%): fuels, lubricants, kerosene, etc. At the end of March 2019, the group operated 6 refineries in Japan;
- manufacturing of petrochemical products (12.5%): activity carried out in 2 production sites located in Japan;
- exploration and production of oil, coal, uranium and geothermal resources (7%);
- other (1.7%).
Net sales are distributed geographically as follows: Japan (69.8%), Asia-Pacific (19.2%), North America (7.2%), Europe (2.4%) and others (1.4%).
IDEMITSU KOSAN CO., LTD. 
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