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FINANCIAL NEWS
Qatar Petroleum, JX Nippon ink gas deal
09 May 2011
(MENAFN) Qatar Petroleum revealed inking a deal with the Japan-based oil company, JX Nippon, granting the latter right to explore and produce gas that is located near the country’s northeast coast for the coming thirty years, reported AFP.
Qatar Petroleum said that the area that exploration would cover an area of 6,173 square kilometers and would be overseen by the Qatari company.
The state-owned company added that this would be the first exploration contract for JX Nippon in Qatar.
JX Nippon estimated its initial investment in Qatar to amount to USD100 million.
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