July 17 (LNGJ) - Japan Petroleum Exploration (Japex), the mainly Asian energy and LNG projects particpant, has established a joint venture in Norway with Longboat Energy called Longboat Japex Norge AS. Longboat said that having completed the transaction, a $100 million financing facility for acquisitions and associated development costs has been established for the venture to draw on.
“We are pleased that the creation of the Longboat-Japex joint venture has completed as scheduled and now looks forward to pursuing further acquisitions and opportunities on the Norwegian Continental Shelf to follow on from the first joint transaction announced at the beginning of this month,” said Helge Hammer, Chief Executive of Longboat. “In the near term, we are looking forward to the drilling of the high impact Velocette exploration well (JV 20 percent) which is expected to spud in September,” said Hammer.
