HOME >
News Releases >
2015 >
JOGMEC Provides Liability Guarantee for SODECO’s Odoptu Field Stage-2 Development
JOGMEC Provides Liability Guarantee
for SODECO’s Odoptu Field Stage-2 Development
PDF version of this page (268 KB)March 23, 2016
Japan Oil, Gas and Metals National Corporation (JOGMEC: Minato-ku, Tokyo, President: Keisuke KUROKI) announced today that it has decided to provide liability guarantee for Sakhalin Oil and Gas Development Co., Ltd. (SODECO; President: Masao FUJITA) for promoting the Stage-2 development of the Odoptu field located off the northeast coast of Sakhalin Island.
SODECO holds a 30% participating interest in the Sakhalin-1 project, which contains three producing fields, namely, Chayvo, Odoptu and Arkutun–Dagi.
The Odoptu Stage-2 development follows its “First Stage Production”, commencing the production in 2010, in order to enhance the recoverable reserves in the Odoptu field.
It is expected that the implementation of this Stage-2 development will reinforce the stable oil supply to Japan.
The Odoptu Stage-2 development follows its “First Stage Production”, commencing the production in 2010, in order to enhance the recoverable reserves in the Odoptu field.
It is expected that the implementation of this Stage-2 development will reinforce the stable oil supply to Japan.
Brief Overview
1. Corporate Data
| Company Name | Sakhalin Oil and Gas Development Co., Ltd. (SODECO) |
| Date of Establishment | March 20, 1995 |
| Head Office | Tokyo, Japan |
| President | Mr. Masao FUJITA |
2. Participating Interest
| SODECO | 30.0% |
| Exxon Neftegas Ltd. | 30.0% (Operator) |
| ONGC Videsh Ltd. | 20.0% |
| Sakhalinmorneftegas-Shelf | 11.5% |
| RN-Astra | 8.5% |
3. Adoption as an eligible project for providing liability guarantee
| Adoption Date | March 15, 2016 |
| Estimated amount of liability guarantee | 450 million USD |
| Reason of Adoption | The project fulfils JOGMEC’s technical, political and business related criteria. |
4. Location of Project
The inquiry about this page.
Project Department
Tel +81-3-6758-8023
Fax +81-3-6758-8053
Public Relations Division
Tel +81-3-6758-8106
Fax +81-3-6758-8008
