We implement CO2-EOR projects as a form of CCUS to address the problem of global warming. Through them, we aim to increase oil production while greatly reducing the amount of CO2 that is released into the atmosphere. In the United States, for example, we are operating a major commercial project that involves capturing CO2 released from a coal-fired power station's flue gas and injecting it into an oil field. Based on our success here, we are conducting joint studies with Indonesia, Malaysia, and other oil-producing countries that help us build stronger relationships and acquire new business.
2.Superior LNG Assets
Producing since 2003, the SK10 Project offshore of Sarawak is a key undertaking for which we handle exploration, development and production as the operator. The natural gas that is produced from this block is sent to a liquefaction plant operated by Malaysia LNG Tiga Sdn Bhd (of which ENEOS is an investor), liquefied at the plant, and then sold as LNG to customers in Japan.
We have been involved in the Tangguh LNG Project, which ranks as our second LNG project following the SK10 Project in Malaysia, from the exploration stages. The project began producing in 2009, and in 2016 a final investment decision was made to implement an expansion project that will add a liquefaction process train to the LNG plant. The LNG that is produced helps meet Indonesia's energy demand, which is expected to increase in the years ahead. A portion is also sold to customers in Japan.
Papua New Guinea
We have been involved in the PNG LNG Project, which ranks as our third LNG project following those in Malaysia and Indonesia, from the business feasibility study stage. The project links highland production facilities with a liquefaction plant and exporting facilities in Papua New Guinea's capital of Port Moresby through an onshore and subsea pipeline that extends for more than 700 kilometers. It began production in 2014 and supplies LNG to Japan and other Asian nations.
3.Safe and Stable Operations
In Southeast Asia and the Middle East, NOEX enjoys the benefits of existing infrastructure and project networks as well as the trust of the governments of oil-producing countries and state-owned oil companies. We will actively pursue further business expansion with focus on safe and stable operations in these regions.