Japex Confirms Natural Gas, Oil Output at Niigata Field

TOKYO Jun 22, 2007 (Dow Jones Newswires)

Japan Petroleum Exploration Co. (1662.TO), or Japex, said Friday it has confirmed production of natural gas and oil at its offshore test well in Niigata prefecture in northeastern Japan.

The Japanese energy explorer has confirmed output of 124,000 cubic meters a day of natural gas and 48 kiloliters a day of crude oil from the test well about 30 kilometers northeast of Niigata city, said the company in a statement.

In the Iwafuneoki field, where the test well was drilled, Japex and its unit have a 46.667% and 33.333% stake respectively, while Mitsubishi Gas Chemical Co. (4182.TO) holds a 20% stake.

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