Japan’s Nippon Oil Corp. is looking to boost its international oil and gas exploration portfolio in an effort to increase its production capacity. Toward that aim, Nippon plans to spend over $650 million on overseas exploration.
Some of Nippon’s International Exploration budget will be spent on its assets in Libya . In Africa, it well begin exploration work this summer in Libya where the company holds title to two blocks , block 2-1/2 and block 40-3/4. The company is partnered on these blocks with Mitsubishi and Japex receptively. While the company did not say which block would be the first to see an exploration program, it is expected that Nippon will kick of seismic during Q3.
About Libya
