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Japan: Six Eastern Siberian Wells By 2014

Japan: Six Eastern Siberian Wells By 2014

The Japan Oil, Gas and Metals National Corp (Jogmec) and its Russian partner, LugaNeft Co. will spend $200 million to drill at least six exploration wells north of Lake Baikal in two Eastern Siberian oil-and-gas blocks in an effort to diversity national oil sources, Dow Jones reported Feb. 21. According to Jogmec’s East Siberian Project Director Satoshi Asawa, current budget discussions include additional seismic work and drilling to establish the size of the fields, adding if commercial production begins, Jogmec will send its share of the oil to Japan via the Eastern Siberian Pacific Ocean pipeline. Asawa added the Japan-Russia joint venture is a symbol of bilateral cooperation.

 

 

 

 

 

 

 

 

 

 

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