The First Arrival of Hail Oil
26th December 2017
Cosmo Energy Exploration & Production Co., Ltd.
Cosmo Energy Exploration & Production Co., Ltd., (CEP, Representative Director & CEO: Isao Kusakabe) announce that crude oil produced from the Hail Oil Field has arrived at Yokkaichi Refinery, owned and operated by Cosmo Oil Co., Ltd., (COC, Representative Director & CEO: Hisashi Kobayashi), on 25th December.
As previously announced by CEP, Abu Dhabi Oil Co., Ltd. (ADOC, Representative Director & CEO: Isao Kusakabe), a subsidiary of CEP, commenced production from the Hail Oil Field on 7th November. The first shipment was made on 23rd November and have arrived at Yokkaichi Refinery after voyage from the Middle East.
The crude oil produced from the Hail Oil Field is blended together with the existing oil fields, such as Mubarraz Field, Umm Al-Anbar field, and Neewat Al-Ghalan field, and is marketed as MUBARRAZ CRUDE. The rise in production at ADOC contributes to increasing Cosmo's Independent Development Ratio of Oil, and also towards higher profitability.
The increase of Crude Oil import volume from ADOC in association with the commencement of Hail Oil Field Production leads not only to the increase of Independent Development Ratio of Oil for the CEH Group and the stable energy supply in Japan, but also strengthens the tie with the Emirate of Abu Dhabi, United Arab Emirates. We will continue to exert strenuous effort towards safe and stable energy supply.
| ADOC Head Office | Hamamatsucho BLDG., 1-1-1, Shibaura, Minato-ku, Tokyo |
|---|---|
| President | Mr. Isao Kusakabe |
| Date of Establishment | 17th January 1968 |
| Capital | 12,763,335,760 Yen |
| Shareholders | Cosmo Abu Dhabi Energy Exploration & Production Co., Ltd. 64.4% JX Nippon Oil & Gas Exploration Corporation 32.2% Kansai Electric Power Co., Inc. 1.7% Chubu Electric Power Co., Inc. 1.7% |
Cosmo Energy Group Oil E&P Division
(*)
MIC (Mubadala Investment Company) in which The Emirate of Abu Dhabi has a 100% stake, has been established as a holding company in association with the business combination of IPIC(International Petroleum Investment Company)and MDC(Mubadala Development Company).
End