From Rueters – JOGMEC to support JX Sarawak exploration project


Dateline 2011-10-21:

State-backed Japan Oil, Gas and Metals National Corp (JOGMEC)said Thursday it will provide 10.1 billion yen ($130 million) in equity capital financing to a unit of JX Holdings for its oil and gas exploration project in Malaysia.

JX Nippon Oil and Gas Exploration Corp, the upstream unit of Japan’s biggest oil company, owns a 75-percent stake in Block SK333 onshore Sarawak and is the operator. Malaysia’s national oil company, Petronas, owns the remaining 25 percent.

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