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Vietnam

Since the acquisition of Block 15-2 in 1992, the project has been one of NOEX's key operations. Operator and NOEX subsidiary JVPC has been involved in the ongoing exploration and development of the block, including the production of crude oil and natural gas. We have now also acquired Blocks 05-1b/c and Block 16-2, where we are conducting exploration activities.
As part of our corporate social responsibility program we have been promoting social welfare activities in Vietnam, including developing projects aimed at reducing greenhouse gas emissions and improve the lives of the local people.

Project Summary:Block 15-2

JV Participants and Interests

Company Holding the Acreage ◎Japan Vietnam Petroleum
Shareholders (Holding Percentages) JX Nippon Oil & Gas Exploration Corporation (97.1%)
Mitsubishi Corporation (2.9%)
Project Status Exploration/Development/Production
Interest 46.5%
Partners
(Interest)
PVEP(17.5%)
ConocoPhillips Company (36.0%)
Net production 16,200 BOED

Note: ◎ operator

Sophisticated Exploration Technologies

Sophisticated Technology to Explore the Basement Rocks

Rang Dong and Phuong Dong oil fields feature a fractured granite basement rock reservoir that is unique in the world. NOEX's fracture evaluation technology is highly valued and receiving worldwide recognition. We have been improving the productivity of these fields by applying advanced tools, including fracture evaluation and horizontal borehole drilling technologies.

Project History

Japan Vietnam Petroleum Company

2008 September Started production at Phuong Dong oil field
2008 July Rang Dong oil field reached the cumulative oil production 150 million barrels
2006 February Rang Dong oil field associated gas recovery and utilization project was registered as a CDM Project under the Kyoto Protocol (CERs were issued in February 2008)
2005 June Rang Dong oil field reached the cumulative oil production of 100 million barrels
1998 August Started production at the Rang Dong oil field
1994 June Discovered Rang Dong oil field in Block 15-2
1992 October Acquired working interest in Block 15-2

Project Summary:Blocks 05-1 b/c,Block 16-2

JV Participants and Interests

Blocks 05-1 b/c

Company Holding the Acreage JX Nippon Oil & Gas Exploration Corporation
Project Status Exploration
Interest 35.0%
Partners
(Interest)
◎Idemitsu Oil & Gas (35.0%)
INPEX Holdings Inc. (30.0%)

Note: ◎ operator

Block 16-2

Company Holding the Acreage Nippon Oil Exploration (Cuu Long)
Project Status Exploration
Interest 40.0%
Partners
(working interest)
◎PVEP (45.0%)
VSP (15.0%)

Note: ◎ operator

Project History

JX Nippon Oil & Gas Exploration Corporation

2007 November Acquired working interest in Southern Vietnam offshore Block 16-2 in cooperation with PetroVietnam Exploration Production (PVEP) and VietsovPetro (VSP), which is jointly managed by PetroVietnam (PV) and Russia's state-owned Zarubezhneft.
2004 October Acquired working interests in Southern Vietnam offshore Blocks 05-1b/c in cooperation with ldemitsu Oil & Gas and Teikoku Oil