Inpex to Start Production at Australian Oil Field in 2010
November 16, 2007
Tokyo, Nov. 16 (Jiji Press)–Japan’s Inpex Holdings Inc. said Friday that it will start production at the Ravensworth oil field, off the coast of Western Australia, in the latter half of 2010.
The oil field is expected to produce several tens of thousands of barrels a day with reserves totaling 30 million to 40 million barrels. Production is expected to continue for 25 years.
The company’s Inpex Alpha Ltd. unit holds a 28.5 pct stake in the oil field, discovered in 2003.END
(c) 2007 Jiji Press English News Service. Provided by ProQuest Information and Learning. All rights Reserved.