Loan for Acquisition of Interests and Development of Oil Fields in the British North Sea
Supporting a Japanese company in the acquisition of interests and development of oil fields
- Area: Europe
- Energy and Natural Resources
JBIC signed a loan agreement with JX Nippon Exploration and Production (U.K.) Limited (JXNEPUK), a wholly owned British subsidiary of JX Nippon Oil & Gas Exploration Corporation (JX), to finance JXNEPUK’s acquisition of interests and development of the Mariner and Kinnoull Oil Fields, which are owned by Eni S.p.A. Group in Italy. Although the production of oil and natural gas in the North Sea has been declining, advances in oil and gas development technologies have revived interest in this region. This loan will contribute to increasing the ratio of independent oil development through the acquisition of interests by a Japanese company.