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Japex : Sale of Shale Gas Project Interest in Canada and Recording of Extraordinary Loss Related to the Project
édité le 14/05/2021 - Plus de news de "Japex" - Voir la fiche entreprise de "Japex"
Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that its Board of Directors has resolved to sell 10% of all ownership interest in the North Montney Joint Venture which undertakes the shale gas project in Canada (hereinafter "the NM project") to Petronas Energy Canada Ltd. (hereinafter "PECL"), the operator of the NM project. The interest is owned by JAPEX Montney Ltd. (hereinafter "JML"), an overseas consolidated subsidiary.
The NM project proceeds with shale gas development and production in the North Montney area of British Columbia, Canada. JAPEX participated in the NM project through JML in April 2013 and had proceeded with a feasibility study of the LNG project in addition to the shale gas development and production. Even after the decision not to proceed with the LNG project in July 2017 due to changes in the business environment, JAPEX has been working with PECL and its partners to maximize the value of the NM project by optimizing the development plan.