Nippon Oil Exploration Entered into
Production Sharing Contract for Offshore Peninsular Malaysia
April 7, 2008
PRESS RELEASE
Nippon Oil Corporation (President: Mr. Shinji Nishio) announced today that Nippon Oil Exploration Limited
(President: Mr. Makoto Koseki), its upstream arm and a wholly owned subsidiary, entered into a Production Sharing
Contract (PSC) for Block PM308A offshore Peninsular Malaysia through its subsidiary Nippon Oil Exploration
(Peninsula Malaysia) Limited to commence exploration activities in this Block.
including an oil field which has been discovered but not developed, we expect to discover new oil fields in this block.
Nippon Oil Group is aiming to expand its upstream operations and has been conducting exploration, development
and production activities around the world. The Southeast Asian region is one of the important areas for our
upstream operations. In Malaysia, we are currently producing gas from Block SK10, offshore Sarawak, as an
operator through our Malaysian main office in Miri, Sarawak and also we are participating in Block SK8 as a non-
operator. Gas from both Block SK10 and Block SK8 is supplied to liquefaction plant owned by Malaysia LNG Tiga
Sdn. Bhd. where we are one of the shareholders. We are also carrying out exploration activities in Block SK333
onshore Sarawak as an operator, of which PSC was entered into last December.
Block PM308A is the fourth project for us in Malaysia and we will further strengthen our activities in Malaysia.
1.
Project Summary
(1) Block
Block PM308A
(2) Signing Date
April 7, 2008
(3) Block Acreage
Approx. 5,500 km
2
(4) Participating Interest
Nippon Oil Exploration (Peninsula Malaysia) Limited
Lundin Malaysia B.V. *1
PETRONAS CARIGALI SDN. BHD. *2
Japan Energy E&P Malaysia Co., Ltd. *3
20%
35%
25%
20%
(5) Operator
Lundin Malaysia B.V.
*1
A subsidiary of Swedish Lundin Petroleum
*2
A wholly owned subsidiary of Petroliam Nasional Berhad
*3
A wholly owned subsidiary of Japan Energy Corporation
2.
Work Program
(1) Exploration Period :
5 years (April 2008 - April 2013)
(2) Planned Activities :
Acquisition and Processing of new 3D Seismic,
Drilling of 4 Wildcat Wells etc.
3.
Company Profile of Nippon Oil Exploration (Peninsula Malaysia) Limited
(1) Representative :
Makoto Koseki
(2) Date of Establishment :
February 15, 2008
(3) Business Activities :
Exploration for and development of oil, natural gas and other mineral
resources, and the extraction, processing, storage, sale and shipment of
petroleum, natural gas and other mineral resources and their secondary
products
(4) Shareholder :
Nippon Oil Exploration Limited
(5) Paid-in Capital :
\ 50 million (initial capital)
END
Attachment
Location Map of Block PM308A (Yellow Area)