Completion of the Acquisition of Shale Gas Project Interest
from Nexen, Canada
Yokohama, Japan – JGC Corporation is pleased to announce that through INPEX Gas British Columbia Ltd.(*), it has completed the necessary procedures to acquire a 40% participating interest in the shale gas projects in the Horn River, Cordova and Liard basins from Nexen Inc. (Nexen), a Canadian exploration and production company.
This project marks JGC's first foray into the shale gas development business, and is therefore made particularly significant not only as an important milestone in JGC's resource development business, but also as a valuable collaboration with INPEX CORPORATION. This project marks a new opportunity for JGC to develop technology and know-how in the shale gas development and management sector.
(*) INPEX Gas British Columbia Ltd. (INPEX) is jointly established by INPEX CORPORATION and JGC Corporation with the purpose of promoting the shale gas projects in the Horn River, Cordova and Liard basins.
Detail of the project
INPEX Gas British Columbia Ltd.(*) :
JGC Exploration Canada Ltd. :
(JGC's Canadian Subsidiary)
1,000km north-northwest of Calgary, Alberta, Canada
Horn River (366 km2)
Cordova (333 km2)
Liard (517 km2)
In the Horn River basin, production has already started and it now produces shale gas of approximately 65 million standard cubic feet (10,400 barrels of oil equivalent) per day.
Location map of interest in the shale gas
About Shale Gas
Shale gas, being one of natural gas resources, is tightly locked in very small spaces within the shale rock formations. Nowadays advanced technologies such as horizontal well drilling and multi-stage hydraulic fracturing are utilized to recover shale gas. This enables to economically produce gas from the shale formations and, thus the shale gas development projects are boosting.