Mitsubishi to begin crude oil production in PNG
Jul 14, 1997 02:00 AM
June 19, 1997 Mitsubishi Oil Co. plans to begin trial production of crude oil in Eastern Papua New Guinea this October. Mitsubishi shares rights in a PNG project with Chevron and Mobil, among other international oil firms. So far, the group has invested about 4.5 billion yen (about $ 40 mm) into developing the site. Trial production has been set at 10,000 bpd. Officials say they will be able to determine whether or not the site is viable for full-scale commercial production in one or two years.
Source: not available
