PETROMIN NEWS
Petromin and Japex signs Principle Agreement with Japan Petroleum Exploration Co, Ltd (Japex)
Japex is a publicly listed company and partly owned by the Japanese Government. It is the exploration and development company with oil and LNG interests in
The Agreement on Principles for a Long-term Strategic Partnership was signed in Tokyo on Tuesday 30th March, 2010 in the presence of the Prime Minister, Grand Chief Sir Michael Somare by the President of Japex, Mr Osamu Watanabe and Managing Director of Petromin, Mr. Joshua Kalinoe.
In the signing ceremony, Mr. Kalinoe said the purpose and intent of the Agreement is significant for Petromin because of the value it will bring to the development efforts of the company in both operational and human resource development. Mr. Kalinoe said the Agreement allows Japex and Petromin to work together in assessing the development opportunities in the hydro -carbon business in
Mr. Kalinoe said both Japex and Petromin have agreed to form a relationship that would also facilitate Petromin’s financial obligations in exploration and development, including the Elk/Antelop LNG project.
As part of the strategic partnership agreement, a number of technical staff from Petromin will be travelling to
Mr. Kalinoe said, he is excited about the long-term benefit that this relationship with Japex will bring to the capacity building needs of Petromin in both human resource development and technology transfer.