Arab Today, arab today japan russia to jointly develop oilfield
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Japan, Russia to jointly develop oilfield

Arab Today, arab today

Arab Today, arab today Japan, Russia to jointly develop oilfield

Tokyo - AFP

Japan and Russia on Wednesday signed a deal that will see them jointly explore and develop a potentially lucrative oil and gas field off Russia\'s Far East coast. Japanese firm Inpex and Russia\'s Rosneft state oil giant agreed to work together on the reserve, estimated to hold around 3.4 billion barrels of oil, according to the Yomiuri Shimbun, off the Russian state of Magadan. That reserve equates to around three years\' worth of oil imports for resource-strapped Japan. Under the agreement, the companies will establish joint ventures to carry out the exploration, with Inpex holding a third of each, a release from the Japanese company said. \"Inpex is pleased to announce that it has signed the cooperation agreement with Rosneft... to pursue the opportunity to jointly explore and develop exploration blocks, Magadan 2 and 3, in the Sea of Okhotsk\" the statement said. \"It is expected that the partnership with Rosneft could be developed through this particular project and enable Inpex to have an opportunity to expand its activities in Russia, a country with huge hydrocarbon reserves.\" The deal comes after Japanese Prime Minister Shinzo Abe and Russian President Vladimir Putin agreed to cooperate on projects in Russia\'s Far East when Abe visited Moscow last month. Also last month, Rosneft and Japan\'s Marubeni Corporation signed a deal on the possible construction of a liquefied natural gas (LNG) plant in the Russian Far East. The Japanese government will back the plan, with its Japan Oil, Gas, and Metals National Corp. (JOGMEC) financing 50-75 percent of exploration costs, the Yomiuri said. Exploration work will start as early as 2017 and development will begin sometime in the 2020s, it said. Tokyo is eager to tap Russia\'s vast natural resources because of Japan\'s own minimal energy supplies. The world\'s third-largest economy is already cooperating with Russia in natural gas production in various Sakhalin Island projects. Analysts say despite historical animosities that include a decades-long territorial row that has prevented the two sides from signing a World War II peace treaty, Tokyo and Moscow are groping for a closer partnership, in a region eyeing China\'s might with growing unease. Public nervousness over nuclear power in the aftermath of the tsunami-sparked disaster at Fukushima has pushed Japan back to a greater reliance on fossil fuels.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan russia to jointly develop oilfield Arab Today, arab today japan russia to jointly develop oilfield

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan russia to jointly develop oilfield Arab Today, arab today japan russia to jointly develop oilfield

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday