ITOCHU to Acquire 20% Interest of Kudu Gas Field in Republic of Namibia.Tokyo, Japan, Apr 4, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - ITOCHU Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 8001) announces that it has reached agreement to acquire a 20% interest in Kudu gas field The Kudu gas field is a gas field in Namibia. Located of the South West coast of Namibia approximately 170km North West from the city of Oranjemund. Discovered in 1974, the licence has been held by a number of companies including Shell, Chevron Texaco and Energy Africa. from Tullow Oil Tullow Oil plc (LSE: TLW) is a British-based oil exploration and production business headquartered in London. The Company was founded in 1985 in the Republic of Ireland. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. plc (Tullow). Kudu gas field is located in continental shelf, offshore Namibia and it has already approx. 1.4 - 4.1 TCF See Trenton Computer Festival. of gas reserves in place. The two-well appraisal program is about to start from May and it is anticipated that its result will be confirmed within this year.ITOCHU expects that the appraisal program will demonstrate the potential of malti-tcf (more than 5TCF) gas reserves, which can lead to a new LNG LNG (liquefied natural gas): see under natural gas. Project Development in Namibia. ITOCHU has participated in three LNG Project namely, Ras Laffan LNG in Qatar, Oman LNG and Qalhat LNG in Oman. ITOCHU aims to expand its activities on natural gas development/marketing not only in the middle east but also in the world, and will try to develop natural gas value-chain businesses in future. About Itochu Corporation Itochu Corporation is one of Japan's leading trading companies and is engaged in a wide variety of businesses, including textiles, machinery, aerospace, information technology, multimedia, metals, energy, chemicals, forest products, food, retail, financial services and so forth. Itochu maintains over 130 offices around the world and owns over 640 subsidiaries and affiliates. Itochu's sales last year reached 9.5 trillion yen (US$90 billion). Itochu aims to build new profit-making strategies and adding new functions in order to become more global, and to foster businesses in new fields. Source: Itochu Corporation Contact: ITOCHU Corporation Public and Investor Relations Department Tel: +81-3-3497-7295 http://www.itochu.co.jp Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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