Inpex takes Shetland Island bite
Japan's Inpex Holdings has taken a 20% stake in the Shetland Island offshore
P799 licence, in the UK's North Sea play, from Shell.
Operator Shell has a 38.5% in the licence, with US supermajor ConocoPhillips
holding 25%. Japan's Nippon Oil has 10% and Austrian producer OMV has the
remaining 6.5% stake.
State-run Japan Oil, Gas & Metals National Corporation (JOGMEC) said in a
separate statement it will provide 50% of Inpex's expected costs, or about 5
billion yen ($49.88 million), by 2015, Reuters reported.
P799 area covers about 146.3 square kilometres.
26 March 2008 12:41 GMT
| last updated:
27 March 2008 08:20 GMT
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