Overseas geological and geophysical surveys
Overseas geological and geophysical (“G&G”) surveys are conducted to evaluate the potential of a prospective area, by the request from foreign governments and national oil companies or the proposal from JOGMEC. Through these surveys, we build cooperative relationships with resource-rich countries. We also encourage the participation of Japanese companies to the area by providing the survey results. Since 1979, JOGMEC and its predecessor, Japan National Oil Corporation (“JNOC”), have conducted 64 overseas G&G surveys in 28 countries (including surveys currently in progress).
Japanese Companies entered into the PSC after the survey project in offshore southwest Vietnam
Under the Joint Study Agreement between JOGMEC and Vietnam Oil and Gas Group (“Petrovietnam”), Idemitsu Kosan Co., Ltd.(“Idemitsu”) and JOGMEC carried out 2D seismic acquisition and geochemical studies in offshore southwest Vietnam from October 2011 to August 2013. As a result, we acquired the exclusive right to negotiate with Petrovietnam regarding the Production Sharing Contract (“PSC”) for the studied area. Subsequently, Idemitsu exercised this exclusive right with receiving Sumitomo Corporation as a partner and they signed the PSC with Petrovietnam in August 2015. JOGMEC continues to be involved through financial support with providing equity capital to the project.
Geological and Geophysical survey project in Seychelles
In August 2013, JOGMEC signed a Joint Survey Agreement with the Ministry Responsible for Hydrocarbons and PetroSeychelles, for the evaluation of hydrocarbon potential in offshore Seychelles under the Exploration License granted by the Government of Seychelles.
Geological and geophysical survey project in Kenya
Since a remarkable discovery of giant gas fields in Mozambique, Eastern Africa now has a potential to evolve into a new oil and gas producing region. JOGMEC has been carrying out a G&G survey project in onshore Kenya with National Oil Corporation of Kenya since April 2012.