Approximately 6 percent of Japan's LNG needs could be satisfied by a large-scale natural gas project in Brunei, Reuters reported Sept. 9. Five partners - Mitsubishi, Shell, Cono-coPhillips, Malaysia's Petroliam Nasional (Petronas) and Murphy Oil - may spend approximately 700 billion to 800 billion yen (US$9 billion to US$10.3 billion) to develop the project.The companies intend to spend some 70 billion yen (approximately US$910 million) over the next two to three years to determine the reserve size, estimated to range from a few tcf to possibly 12 tcf, business daily Nikkei reported. Field development is slated to start in 2013 with initial production commencing a year later.
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