Nippon Discovers New Natural Gas Field in GOM

The Gulf of Mexico has offered up yet another new discovery, this time to Japan-based Nippon Oil Corporation.

The company said the discovery holds commercially viable natural gas. Development rights to the find are held by Nippon.

Nippon offered no other comments on the find.

In 2005, Nippon purchased 27 producing oil and gas fields offshore Texas, Louisiana and Mississippi. In 2007, Nippon and Mitsubishi Corporation purchased the rights to an oil and gas field in the Gulf of Mexico for $1.2 billion.

The location of the discovery is 180 kilometers off the coast of Louisiana.

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