JOGMEC Provides Equity Financing to JX for Gas Exploration Project Offshore Qatar

JOGMEC announced on Wednesday that it will provide equity financing to JX Nippon Oil & Gas Exploration Limited, established by JX Nippon Oil & Gas Exploration Corporation, which acquired the 100% operating interest in the exploration block 'A' offshore Qatar.

In May 2011, JX Nippon Oil & Gas Exploration (Qatar) Limited has signed an Exploration and Production Sharing Agreement with the Government of the State of Qatar to acquire the 100% operating interest in the aforementioned block.

JOGMEC will provide equity capital covering the exploration expenditures incurred by the JX subsidiary for the project.

E&P activities in Middle East is one of JX's candidate areas of strategic focus and the company expects the project will strengthen the bilateral relationship between Japan and Qatar.