JX Nippon Oil & Gas Buys Stake in Australia Offshore Blocks
Japan's JX Nippon Oil & Gas Exploration Corp has said that it has bought 20% stake in two blocks offshore Western Australia, where potential for discovery of natural gas has been confirmed. As per the plans one exploration well is expected to be drilled.
The two blocks, WA-435-P and WA-437-P are spread over approximately 4,955 sq. km. and 4,855 sq. km., respectively.
Apart from the 20% stake held by JX Australia, Apache Corporation hold 40% in the blocks and acts as the operator.