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Successful Award of Exploration Licenses offshore Greenland

December 24, 2013

 JOGMEC (President: Hirobumi Kawano) announced today that two exploration licenses have been successfully awarded to JOGMEC-assisted Greenland Petroleum Exploration Co., Ltd. (“GreenPeX”), jointly with Chevron and Shell, as a result of the Licensing Round 2012/2013 in Greenland Sea Area, northeastern part of offshore Greenland, Greenland Self-Government.
 The twin licenses, No.2013/45 and No.2013/46, correspond, respectively, to Block 9 (2,220 km2) and Block 14 (2,634 km2), located in the so-called “KANUMAS” area, approximately 60-200 km northeastern part of offshore Greenland with a water depth of approximately 150m to 450m. GreenPeX holds a 29.1667% participating interest of each Block together with Chevron as the operator and Shell, each holding 29.1667%, as well as Nunaoil, Greenland national oil company, holding the remaining 12.5%.

 In February, 2012, JOGMEC announced its approval of equity financing to GreenPeX, established by several Japanese upstream companies led by INPEX CORPORATION, to implement a preferential position afforded to JOGMEC through long history of participation in KANUMAS project initiated by its predecessor, Japan National Oil Corporation.

 Click here to view “JOGMEC Provides Equity Financing for Petroleum Exploration Offshore Greenland”

 JOGMEC has witnessed a series of milestones to start the long-awaited exploration activities in this high-potential area, and will continue to be involved towards further achievement. It is also expected this project will enhance Japan’s energy security when successful.

Corporate Data: Greenland Petroleum Exploration Co., Ltd.

Date of Establishment: May 23. 2011
Head Office: Tokyo, Japan
Director & President: Mr. Toshiaki Kitamura
Shareholders after JOGMEC’s funding (voting rights):
INPEX CORPORATION                 28.9%
JX Nippon Oil & Gas Exploration Corporation   11.1%
Japan Petroleum Exploration Co., Ltd.        8.1%
Mitsui Oil Exploration Co., Ltd.             1.9%
JOGMEC                           50.0%

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