JNOC to provide loan guarantee for Malaysian gas project

Feb 05, 2003 01:00 AM

Japan National Oil Corp. (JNOC) said it will provide a loan guarantee to Nippon Oil Exploration (Sarawak) for a new gas field development in Malaysia.
The loan guarantee is required to finance the development of the Serai gas field in which Nippon Oil Exploration has been participating, JNOC said.

Nippon Oil Exploration acquired a 37.5 % working interest in block SK-8 off Sarawak, Malaysia, from Occidental Petroleum in 1991.
JNOC said it has been assisting Nippon Oil Exploration by providing funds for exploration since June of that year.

Source: Kyodo News
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