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Upper Zakum Oil Field

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Contract area(Field) Project status Venture company(established) Interest owned
(As of March 2018)
Upper Zakum Oil Field In production Japan Oil Development Co., Ltd.
(JODCO)
(February 22, 1973)
JODCO 12.00%
ADNOC 60.00%
ExxonMobil 28.00%

In May 2004, INPEX made Japan Oil Development Co., Ltd. (JODCO) a wholly owned subsidiary by acquiring all of the JODCO shares held by Japan National Oil Corporation (at that time) through a share exchange. JODCO currently holds a participating interest in the Upper Zakum Oil Field offshore Abu Dhabi in the United Arab Emirates where the production of oil is ongoing. In November 2017, the concession was extended until December 31, 2051. At present, the joint venture partners are engaged in artificial island-based development work to increase production capacity to 750,000 barrels per day. An agreement is also in place to further increase production capacity to 1 million barrels per day.

Lower Zakum Oil Field

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Contract area(Field) Project status Venture company(established) Interest owned
(As of March 2018)
Lower Zakum Oil Field In production JODCO Lower Zakum Ltd.(JLZL)
(January 25, 2018)
JLZL 10.00%
ADNOC 60.00%
ONGC-led consortium 10.00%
CNPC 10.00%
TOTAL 5.00%
Eni 5.00%

In February 2018, INPEX acquired a 10% participating interest in the Lower Zakum Oil Field offshore Abu Dhabi in the United Arab Emirates through JODCO Lower Zakum Ltd., a subsidiary, signing a 40-year concession agreement with the Abu Dhabi government and Abu Dhabi National Oil Company (ADNOC) effective March 9, 2018. At present, the joint venture partners are considering raising the production capacity of this oil field to 450,000 barrels per day.

Satah and Umm Al-Dalkh Oil Fields

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Contract area(Field) Project status Venture company(established) Interest owned
(As of March 2018)
Satah and Umm Al-Dalkh
Oil Fields
In production Japan Oil Development Co., Ltd.
(JODCO)
(February 22, 1973)
JODCO 40.00%
ADNOC 60.00%

In May 2004, INPEX made Japan Oil Development Co., Ltd. (JODCO) a wholly owned subsidiary by acquiring all of the JODCO shares held by Japan National Oil Corporation (at that time) through a share exchange. JODCO currently holds a participating interest in the Satah and Umm Al-Dalkh oil fields offshore Abu Dhabi in the United Arab Emirates where the production of oil is ongoing. In February 2018, the concession for both oil fields was extended until March 8, 2043. At present, the joint venture partners are engaged in development work to increase the combined production capacity of both oil fields to 45,000 barrels per day.

  • photo:ADMA Block

    Zirku Island

ADCO Onshore Concession

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Contract area(block) Project status Venture company(established) Interest owned(*Operator)
(As of June 30, 2017)
ADCO In production JODCO Onshore Limited (April 15, 2015) JODCO 5%
ADNOC 60%
TOTAL 10%
BP 10%
CNPC 8%
CEFC 4%
GS 3%

Through its wholly owned subsidiary, Japan Oil Development Co., Ltd. (JODCO), INPEX acquired a 5% interest in the ADCO Onshore Concession in Abu Dhabi in April 2015 following its participation bid. The Company also concluded a 40-year agreement with the Supreme Petroleum Council of the Emirate of Abu Dhabi and Abu Dhabi National Oil Company (ADNOC) that came into effect on January 1, 2015. The concession is one of the world’s largest deposits of oil and is made up of 15 principal onshore oil fields in Abu Dhabi of which 11 are currently in production and four remain undeveloped. Steps are being taken to pursue development work with the aim of increasing oil production capacity to 1.8 million barrels per day.

Concession agreement signing ceremony held in April 2015

Concession agreement signing ceremony held in April 2015

Angola Block 14

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Contract area(block) Project status
(production on the basis of all fields and average rate of FY2016)
Venture company(established) Interest owned(*Operator)
(As of June 30, 2017)
Offshore Angola Block 14 In production
-Crude oil: 104 Mbbld
Angola Block 14 B.V. (April 19, 2012) Angola Block 14 B.V. 20.00% (including 9.99% of INPEX's interest)
Chevron* 31.00%
Sonangol 20.00%
Eni 20.00%
Galp 9.00%

Participating through a joint venture company with TOTAL S.A., INPEX acquired a 9.99% indirect interest in the oil-producing Angola Block 14 in February 2013. Located approximately 100 km offshore from Cabinda, Angola, Block 14 includes discovered and undeveloped fields. Crude oil is currently being produced from four development areas, and steps are being taken to pursue exploration potential within the block.

Angola Block 14 B.V

Production facility

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