INPEX sets up base in Norway

Japan’s INPEX CORPORATION has established a wholly-owned Norwegian resident subsidiary company, INPEX Norge AS , and opened its first office in the Kingdom of Norway in Oslo.

Through this most recently added office in Oslo, INPEX will promote oil and natural gas exploration and production activities in the Norwegian offshore area, in which the company recognizes high potential for oil and natural gas discoveries.

Since the 1960s, many oil companies have conducted exploration of the Norwegian offshore area, and several large-scale oil and gas fields were discovered in the central and southern parts of this offshore area. Furthermore, in recent years, and as a result of active exploration activities, significant reserves of oil and natural gas have been discovered in the Barents Sea, the northeastern part of the Norwegian offshore area.

INPEX is actively pursuing three growth strategies (Continuous Enhancement of Exploration and Production Activities, Strengthening Gas Supply Chain, Reinforcement of Renewable Energy Initiatives) as addressed in the “Medium- to Long-Term Vision of INPEX” released in May 2012. Enhancing exploration activities in the Norwegian offshore area will contribute to strengthening the company’s growth strategy of “Continuous Enhancement of E&P Activities” while expanding its portfolio of worldwide exploration activities.