Expanding Production and Reserves Through an Overseas Shift
First written in FY2016. 12 of 24 entries say "Advanced", first in FY2023. Latest entry: 2026-08-06.
Japan Petroleum Exploration moved to the "Worse" side of this theme in 2021.
0 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「We will concentrate management resources on 4 areas where JAPEX can leverage its strengths, diversify development timing and risks, build a portfolio of core assets, and pursue earnings growth.」
The new plan explicitly identifies concentrating resources in the U.S., Norway, Southeast Asia and elsewhere and building a portfolio of core assets in overseas E&P. U.S. tight oil and gas assets were also acquired. - FY2025AdvancedAnnual report
「In the E&P field, the company made JAPEX Norge AS (J Norge) a subsidiary and established Peoria Resources LLC (Peoria) to acquire and operate operated assets in the US E&P business, completing preparations to build core assets in the E&P field. It also secured funds for investment in building core assets by selling JAPEX UK E&P Ltd., a low-profitability asset, and part of its cross-shareholdings.」
In overseas E&P, progress was made toward making the Norway business a subsidiary, establishing a company to acquire U.S. operator assets, and securing investment funds through the sale of U.K. assets and cross-held shares. - FY2025-H1AdvancedAnnual report
「E&P business revenue increased by ¥18,410 million year on year, or 38.7%, to ¥65,946 million, mainly owing to higher crude oil sales volumes in North America and Europe.」
For the E&P business following the overseas shift, revenue for the current interim consolidated accounting period increased 38.7% year on year to ¥65,946 million, driven by higher crude oil sales volumes in North America and Europe. - FY2024AdvancedAnnual report
「E&P business revenue increased by ¥32,747 million year on year, or 58.4%, to ¥88,810 million, mainly owing to higher crude oil sales volumes in North America, Europe and the Middle East.」
For E&P following the overseas shift, E&P business revenue increased 58.4% year on year to ¥88,810 million, driven by higher crude oil sales volumes in North America, Europe and the Middle East. - FY2023AdvancedAnnual report
「Japex (U.S.) Corp. United States Texas Wells, production facilities, etc. 15 － Internal funds From January 2023 To December 2023 Approximately 7,200 barrels per day」
Under the policy of reorganizing its overseas portfolio and acquiring new interests, the company disclosed capital investment of ¥25,738 million for the joint development of shale oil in Texas and Oklahoma, United States, and a planned production capacity of approximately 7,200 barrels per day. - FY2022ReframedAnnual report
「Overseas: steady execution of existing projects and acquisition of new interests」
The company has organized its policy around combining the execution of existing overseas projects with the acquisition of new interests, rather than focusing on expanding overseas production and reserves mainly through its previous Canadian projects. - FY2022-Q2SoftenedAnnual report
「JAPEX Montney Ltd. (JML), our consolidated subsidiary, completed on 5 July 2021 the transfer to Petronas Energy Canada Ltd., the operator of the concession, of all of its 10% interest in shale gas concessions in the North Montney area of British Columbia, Canada, and related assets.」
All of the North Montney interests that underpinned the expansion of production and reserves through the overseas shift were transferred, further narrowing the scope of overseas expansion. - FY2022-Q1SoftenedAnnual report
「JAPEX Montney Ltd. (JML), our consolidated subsidiary, completed on 5 July 2021 the transfer to the operator of the concession, Petronas Energy Canada Ltd., of all of its 10% interest in shale gas concessions in the North Montney area of British Columbia, Canada, and related assets. At a meeting of the Board of Directors held on 29 July 2021, the company resolved to terminate the Canadian oil sands project promoted by Japan Canada Oil Sands Limited (JACOS), which is wholly owned through our consolidated subsidiary Canada Oil Sands Co., Ltd., and to transfer all JACOS shares to HE Acquisition Corporation, and entered into a share transfer agreement.」
The transfer of the Canadian shale gas interests that underpinned the expansion of production and reserves through the overseas shift was completed, and the company also resolved to terminate the oil sands business and transfer all its shares, narrowing the scope of its overseas expansion. - FY2020RestatedAnnual report
「Overseas, we will focus on optimizing our existing portfolio and identifying new investment opportunities.」
The company continues to prioritize portfolio optimization and the identification of new investment opportunities in its overseas business, rather than emphasizing quantitative targets. - FY2018ReframedAnnual report
「Overseas, we will focus on optimizing our existing portfolio and identifying new investment opportunities.」
The company has shifted its focus from quantitative production and reserves targets based on the overseas shift to optimizing its existing portfolio and identifying new investment opportunities. - FY2018-Q3RestatedAnnual report
「With respect to the impact on our group’s reserves and on the production target for FY2019 of 100,000 barrels per day and the reserves target of 550 million barrels set out in the medium-term business plan, following the discontinuation of the PNW project by JML and the end of bitumen production operations using the SAGD method in the DEMO area by JACOS, we intend to assess the impact in light of a review of JML’s upstream business development plans and other factors.」
Regarding the targets for expanding production and reserves through overseas businesses, the company has reiterated its policy of confirming the impact of project changes after reviewing its development plans. - FY2018-Q2RestatedAnnual report
「With respect to the impact on our group’s reserves and on the production target for FY2019 of 100,000 barrels per day and the reserves target of 550 million barrels set out in the medium-term business plan, following the discontinuation of the PNW project by JML and the end of bitumen production operations using the SAGD method in the DEMO area by JACOS, we intend to assess the impact in light of a review of JML’s future upstream business development plans and other factors.」
Because the assumptions underlying the expansion of production and reserves through overseas projects have changed, the company has reiterated its policy of confirming the impact on the FY2019 targets after reviewing its development plans. - FY2018-Q1SoftenedAnnual report
「With respect to the impact on our group’s reserves and on the production target for FY2019 of 100,000 barrels per day and the reserves target of 550 million barrels set out in the medium-term business plan, following the discontinuation of the PNW project by JML and the end of bitumen production operations using the SAGD method in the DEMO area by JACOS, we intend to assess the impact in light of a review of JML’s future upstream business development plans and other factors.」
The FY2019 production and reserves targets now require reassessment in light of the impact of project cancellations and the end of operations, weakening the basis for achieving them. - FY2017RestatedAnnual report
「The company has been shifting its business platform overseas under the previous medium-term plan and is working to achieve the FY2019 production target of 100,000 barrels per day and reserves target of 550 million barrels through such initiatives as moving to development of the expansion area of the Hangingstone oil sands concession in Canada, participating in a shale gas development and production project in British Columbia, Canada, and participating in an LNG project under consideration in the province.」
The overseas shift and the FY2019 production and reserves targets continue. - FY2016First statedAnnual report
「As a result of shifting its business platform overseas under the previous medium-term plan, including moving to development of the Hangingstone expansion area in the Canadian oil sands (HE Project) and participating in the Pacific Northwest LNG (PNWL) project, the company expects FY2019 production and reserves to reach 100,000 barrels per day and 550 million barrels, respectively, substantially exceeding the previous plan’s targets.」
The company stated FY2019 production of 100,000 barrels per day and reserves of 550 million barrels as targets to be achieved through overseas projects.