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US Gulf of Mexico

NOEX's assets in the Gulf of Mexico in the United States range from those in continental shelf locations (less than 200 meters in depth) to deep water areas (more than 200 meters in depth), as well as onshore developments.
In 2014 we launched the CO2-EOR (Enhanced Oil Recovery) project as a joint venture with NRG Energy Inc, one of the biggest electricity producers in the United States. The project involved the capture of CO2 from the flue gas of a coal-fired power plant in Texas, and the injection of the CO2 into an oil field to boost production.

Project Summary: Gulf of Mexico Onshore and Offshore Assets

JV Participants and Interests

Company Holding the Acreages JX Nippon Oil Exploration (U.S.A.) Ltd.
Shareholders (Holding Percentages) JXTG Holdings (U.S.A.) Inc. (100%)
Project Status Production
Interest 11.6%-60.0%
Partners ◎Anadarko
◎Hilcorp
◎Fieldwood
Others
Net production 3,000 BOED (Average daily production in 2014)

Note: ◎ Operator in one or more fields

US Gulf of Mexico: Small-Scale Commercialization

US Gulf of Mexico, where even small-sized oil and gas reserves can be commercialized

As a result of extensive exploration and development since the 1940s, many oil and gas discoveries have been made in the Gulf of Mexico. The infrastructure for processing and transporting produced oil and gas is therefore in place and readily available, along with a comprehensive and stable legal and taxation system. Taking advantage of these conditions, even oil and gas fields with relatively marginal reserves can be commercially developed in the area.

Long-Term Operations

Steady operations from Houston

Our Gulf of Mexico assets range from those in continental shelf locations (less than 200 meters in depth) to deep water areas (more than 200 meters in depth). Since 1990 we have conducted exploration and production in shallow and deep water blocks including the WC265/266, MP140 and K2 blocks, and the Orchard North onshore facility near Houston, Texas.

Project History

2007 Acquired 11.6% interests of K2 field from Anadarko
Since 1990 Exploration and production in offshore blocks in the Gulf of Mexico and onshore in Texas

Project Summary: CO2-EOR Project

Besides, we launched the CO2-EOR project utilizing CO2 captured from flue gas of a coal-fired power plant at W.A. Parish power plant in Texas to increase oil production by injecting the CO2 into the West Ranch oil field in Texas in 2014. The project is carried out through a joint venture company with NRG Energy, Inc., one of the biggest electricity producers in the United States.

JV Participants and Interests

Project Company Petra Nova Parish Holdings LLC ("PNPH")
Shareholders
(Holding Percentages)
JX Nippon Oil Exploration (EOR) Limited ("JX EOR") (50%) *1
Petra Nova Holdings LLC (50%) *2
Project Status Development
Interest 50% in PNPH
25% in West Ranch Field *3
  • *1Japan Bank for International Cooperation holds 100% of preferred stocks issued by JX EOR and
    JX Nippon Oil Exploration (U.S.A.) Limited holds 100% of common shares issued by JX EOR.
  • *2A subsidiary of NRG Energy, Inc.
  • *3PNPH indirectly holds 50% interest in the West Ranch Oil Field through its subsidiary.
    Therefore, 25% of interest in the West Ranch Oil Field is held by JX EOR indirectly through its subsidiary.

CO2-EOR Project

This epoch-making project will be able to vitalize the legacy oil fields and to produce a significant amount of oil, while reducing the footprint to the global environment at the same time.
When complete, the carbon capture system is expected to be the world's largest post-combustion carbon capture facility on an existing coal plant.

Project History

2014 July Participated in CO2-EOR project
2016 Fourth quarter Start CO2-EOR operation (Planned)