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JOGMEC Provides Equity Financing to JX for a natural gas exploration project offshore Qatar

May 30, 2014

ENP Newswire - 30 May 2014

Release date- 29052014 - JOGMEC announced today 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 the State of 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 also we expect the project will strengthen the bilateral relationship between Japan and Qatar.

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Source: ENP Newswire

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