Tuesday, March 12, 2013
Idemitsu Begins Production At Norwegian Oil Field
TOKYO (Nikkei)--Idemitsu Kosan Co. (5019) said Tuesday that it has launched commercial production at a Norwegian North Sea oil field through its local subsidiary.
The Vigdis Northeast field, 41.5% owned by Norway's state-run energy group Statoil, is expected to pump out 20,000 barrels a day when it hits peak production in 2014.
Idemitsu holds 9.6% of the rights, or the daily equivalent of roughly 2,000 barrels.
(The Nikkei, March 13 morning edition)