JAPEX

Japan Petroleum Exploration Company Limited (JAPEX) (石油資源開発株式会社, Sekiyu Shigen Kaihatsu Kabushiki-Kaisha) is a hydrocarbon exploration, production and transportation company. JAPEX explores and produces crude oil, natural gas and liquefied natural gas reserves worldwide. JAPEX has proven reserves of 272 million barrels in Japan and the rest of the world. Aside from operations in Hokkaido, Akita, Yamagata and Niigata in Japan, JAPEX has major operations in Canada, Indonesia and Libya. Although currently a private company, the Government of Japan owns a 34% stake in JAPEX.

History

JAPEX was founded in 1955 as a government-owned company in order to seek petroleum self-sufficiency for Japan. Between 1958 and 1968, JAPEX discovered 10 oil fields within Japan. In 1965, JAPEX's operational range began to go overseas and in 1967, JAPEX was incorporated into the government-owned Japan Petroleum Development Corporation (JPDC). On 1 April, In 1970, JAPEX was separated from the JPDC and reorganized as a privately owned company.