Abu Dhabi National Oil Company (Adnoc) said on Monday it had granted Japan's Inpex Corp a 5 per cent stake in a new 40-year concession, making it the first Asian firm to help operate the UAE's biggest oilfields after decades-long partner
Japanese oil and gas developer Inpex Corp is in final adjustments to obtain a 5 per cent stake in a new concession to help operate the United Arab Emirates' biggest oilfields for $1.1 billion, public broadcaster NHK said on Monday.
Japan's top oil explorer Inpex Corporation said production has started from Umm Lulu field, an offshore oil field in Abu Dhabi, UAE, which the company jointly developed with Abu Dhabi National Oil Company, BP and Total.
Inpex Corp, Japan's top oil explorer, has pulled out from Iran's Azadegan oil field project as expected, after US sanctions against Iran over its nuclear programme posed a potential threat to the company's business.
European oil majors resisted pressure from the US to stop doing business with Iran, in spite of Washington's drive to isolate Tehran over a nuclear programme the West suspects is aimed at making bombs.
Total said it was still buying Irania
Inpex Corp, Japan's top oil explorer, is likely to withdraw from Iran's Azadegan oil field project, acceding to a request from the US due to Washington's sanctions on Tehran over its nuclear programme, Japanese media said.
Inpex and the Ja
Japan's top oil refiner Nippon Oil and two oil and gas developers Inpex Holdings (Inpex) and Japan Petroleum Exploration Co Ltd (Japex) denied a report that they were in talks to build an oil refinery in Libya.
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