InfoAnda - Japan firm says it has discovered oil field in Gabon

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan firm says it has discovered oil field in Gabon AFP - 57 minutes ago TOKYO (AFP) - - Japanese trading house Mitsubishi Corp. said Monday it has discovered an oil field in Gabon, raising hope for more energy production from West Africa. The oil field, in the Atlantic Ocean, has up to 14 million barrels in possible reserves, Mitsubishi said. By comparison, Africa as a whole had close to 115 million barrels of proven oil reserves last year, according to the US government's Energy Information Administration. Mitsubishi said its subsidiary, MPDC Gabon Co., has a 50 percent stake in the oil field, with the other half held by France's Perenco. The field, named Loche East Marine, is already producing 1,000 barrels a day, Mitsubishi Corp. said in a statement. The Japanese company said it was putting a growing focus on finding reserves in West Africa, "one of the fastest growing and high potential oil producing areas in the world." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Europe stock index futures hit by company earningsReuters - 34 minutes ago Finansbank sells Malta unit to another part of NBGReuters - 21 minutes ago Pakistan Petroleum 6-mth net profit up 48.2 pctReuters - 47 minutes ago Nikkei at 3-mth closing low on earnings fear, yenReuters - 55 minutes ago Can stimulus, lower rates save Asia's economies?AP - 55 minutes ago Enlarge Photo Japan firm says it has discovered oil field in Gabon Most Popular – Business Viewed Child matador kills six bulls in Mexico Hudson 'miracle' pilot gets hero's homecoming 'Dogs don't wear condoms,' says Baywatch star Anderson Ring of fire: Indian Ocean to see solar eclipse Global warming could unleash ocean 'dead zones': study View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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