COSMO OIL CO., LTD. is pleased to announce that Cosmo Energy Exploration & Development Ltd. (Capital: 5 Billion Yen, Headquarter: Shinagawa-ku, Tokyo, President: Mr. Yaichi Kimura), which is a fully owned subsidiary of COSMO OIL CO., LTD. (Capital: 107.2 Billion Yen, Headquarter: Minato-ku, Tokyo, President: Mr. Yaichi Kimura) has signed a farm-out Agreement with Wintershall Holding AG, as operator of the project, and Anadarko Qatar Block 11 Company, a subsidiary of Anadarko Petroleum Corporation, to participate in the Block 11 EPSA (Exploration and Production Sharing Agreement) in the State of Qatar.
Qatar Petroleum Development Co., Ltd. (Capital: 3.1 Billion Yen, Headquarter: Shinagawa-ku, Tokyo, President: Mr. Keiichiro Okabe), a subsidiary of Cosmo Energy Exploration & Development Ltd., have been producing oil from Al-Karkara and A-Structure North Fields since March 2006. In addition, we entered into neighbouring Block 3 EPSA in Qatar last year. Through these projects, we are expanding our E&P activities in Qatar.
Outline of the Block 11 EPSA
- Block Name: Block 11
- Location: Northern Part of Offshore Qatar
- Water Depth: up to 45m
- Partners:
| Cosmo Energy Exploration & Development Ltd. |
29.5%, |
| Wintershall Holding AG (Operator) |
41.0%, |
| Anadarko Qatar Block 11 Company |
29.5% |
- Contract: Exploration and Production Sharing Agreement for Block 11
- Signature Date of the farm-out agreement: 3rd June 2008
Exploration plan:
There is one existing oil discovery on Block 11 where a well tested oil in 2005. Further exploration and appraisal drilling in 2008/2009 will determine the commercial feasibility of a possible future development project in Block 11.
