JX Nippon secures offshore exploration licenses

JX Nippon Oil & Gas Exploration Corporation, through Greenland Petroleum Exploration (GreenPeX), won the two offshore exploration licenses, Block 9 and Block 14, in Kanumas Area, northeastern part of offshore Greenland, jointly with Chevron and Shell in the 2012/2013 Licensing Round in Greenland Sea Area, Greenland Self-Government. The joint venture has also entered into the licensing contracts for Block 9 and Block 14 and concluded as 2013/45 License and 2013/46 License, respectively, with the Ministry of Industry and Mineral Resources of Greenland.

2013/45 License and 2013/46 License are located in Kanumas Area, approximately 60–200km northeast of offshore Greenland with a water depth of approximately 150–450m and span area of 2,220km2 and 2,634km2, respectively. Kanumas Area is a frontier area where no well has been drilled for oil and gas exploration, and many E&P companies expect major oil and gas discoveries.

In these exploration licenses, Chevron as the Operator, Shell and GreenPeX each holds 29.1667% participating interest while Greenland national oil company, Nunaoil, holds 12.5% participating interest.