抄録
The oil and gas industry in Japan began in the middle of 19th Century, in the Niigata and Akita basins, therefore, hydrocarbon exploration has been conducted for over a hundred years, with more than 1000 wells drilled in the two basins. The fact that there has been no significant discovery for two decades is an indication that exploration for hydrocarbons in both basins has reached a mature stage. As a result, JAPEX has been shifting its activity from these areas to other areas such as Hokkaido and overseas. However, we still see the potential for resources growth in both Niigata and Akita basin, and continue our efforts to confirm reserves in existing fields and surrounding areas.
In carrying out Japex's domestic activities, we attempt the following: (1) cut the exploration costs (2) apply new exploration tools (3) farm out concession areas to reduce risk, increase the opportunities and reduce spending. In our overseas activities, following guidelines are observed (1) focus on selected areas (2) concentrate on play types in which Japex has expertise (3) balance exploration activity with asset acquisition. At any rate, a successful wildcat is the ultimate way to prove that oil and gas exploration is still a profitable business.
