Russian-Japanese Venture Strikes Lucky in East Siberia

摘要

A Russian-Japanese joint venture said Monday that it has found oil and gas in three East Siberian blocks and plans to spend US$300 million over the next four years developing the resources. The discoveries were made in the Severo-Mogdinsky, Zapadno-Yaraktinsky and Bolshetirsky blocks by a venture between Japan Oil, Gas and Metals National Corp. (Jogmec) — a quasi-government firm established to secure stable supplies of oil and minerals for Japan — and Irkutsk Oil Co. (INK). The blocks together cover almost 11,900 square kilometers.