October 22, 2014 10:22 PM ET

Energy Equipment and Services

Company Overview of The Japan Oil, Gas and Metals National Corporation

Company Overview

Japan oil, Gas and Metals National Corporation provides financial assistance, technology development and technical support, stockpiling, gathering/providing information, mine pollution control, and overseas field survey services in Japan and internationally. The company offers financial assistance for oil and gas exploration and production projects, as well as for exploration and development of metallic mineral resources through equity capital and liability guarantees. It also manages stockpiling of petroleum, LP gas, and rare metals, including the construction of stockpiling bases. In addition, the company provides oil recovery, oil and gas reservoir detection and characterization, well dri...

Toranomon Twin Building

2-10-1 Toranomon


Tokyo,  105-0001


Founded in 1963

481 Employees


81 3 6758 8000


81 3 6758 8008

Key Executives for The Japan Oil, Gas and Metals National Corporation

Executive Director
Executive Director
Executive Director
Executive Director
Compensation as of Fiscal Year 2014.

The Japan Oil, Gas and Metals National Corporation Key Developments

Cockatoo Coal Limited and JOGMEC Enters into Joint Exploration Agreement

Cockatoo Coal Limited and JOGMEC entered into a Joint Exploration Agreement ('JEA') to undertake an extensive exploration program on Cockatoo's wholly owned Dingo West project. Under the terms of the JEA, JOGMEC will provide up to $3.5 million to Cockatoo over a three year period, for exploration expenditure on the Dingo West project. JOGMEC will earn up to a 35% economic interest in the Dingo West project, whilst also possessing the right to assign that interest to a Japanese nominee company in future, in order to progress the project to development. Commencement of the JEA is subject to Australian Foreign Investment Review Board approval. The Dingo West Project is a 76km2 area consisting of Exploration Permits for Coal 1535 and 1562 located in the South-Eastern limb of the Bowen Basin, and is approximately 50 km north of Cockatoo's Baralaba mining complex, and is also adjacent to Cockatoo's 30% owned Dingo joint venture project with Whitehaven Coal.

Peel Mining Executes $7,000,000 Farm-In Agreement with JOGMEC

Peel Mining Limited announced that Peel (CSP) Pty Ltd. has entered into a Memorandum of Agreement (MoA) with Japan Oil, Gas and Metals National Corporation (JOGMEC), for JOGMEC to earn up to 50% of certain exploration tenements owned by the company by funding up to $7,000,000 of exploration expenditure. JOGMEC has the right to earn a 40% interest in the Cobar Superbasin Project by funding AUD 4,000,000 of exploration expenditure on the Project tenements over a period of up to 3 years. JOGMEC has the right to earn a further 10% interest in the Project tenements, by funding a further AUD 3,000,000 of exploration expenditure on the tenements over a period of up to 2 further years. JOGMEC is required to spend a minimum of $500,000 before withdrawing from the Agreement. Peel to act as operator of the project on behalf of the parties during the farm-in and any subsequent joint venture unless JOGMEC becomes a majority owner at which point the Operator shall be appointed by JOGMEC.

Midland and Japan Oil, Gas and Metals National Corporation Begin First Drilling Program on the Pallas PGE Project

Midland Exploration Inc. announced in partnership with Japan Oil, Gas and Metals National Corporation, the beginning of a first diamond drill program on the Pallas Project. The objective is to test the extensions of the high grade platinum group elements (<< PGE >>) new showing named Athena, as well as the extensions of the best PGE mineralized zones found during the summer 2014. The Pallas properties are located between 60 and 80 kilometres west and south from the town of Kuujjuaq, Quebec. The drill program will comprise 7 holes for a total of approximately 1,000 metres (<< m >>) to test the best showings yet discovered. The first showing to be drilled is Athena which had returned 12.6 and 2.76 g/t PGE plus gold (<< PGE + Au >>) and a second showing 500 m north, that returned up to 3.2 g/t PGE +Au. The third target to be tested is the Enish showing that returned 4.9, 2.9 and 2.8 g/t PGE + Au along a 100 m long mineralized corridor. The next fourth and fifth targets to be drilled are on the Ceres claim block, to test a channel returning 2.2 g/t PGE + Au over 1.0 m and a mineralized zone, farther north, returning up to 4.3 g/t PGE +Au. Finally, the last two holes will test the best channel samples on the Palladin Property that returned 2.9 g/t PGE + Au over 1.76 m (including 4.5 g/t PGE + Au over 0.80 m) and 1.94 g/t PGE + Au over 2.1 m (including 2.65 g/t PGE + Au over 0.75 m); both channels are open on each side. Jointly with the drill program, more prospecting and channel sampling will also be completed on other very good PGE occurrences. The Pallas Project comprises 479 claims covering more than 210 square kilometres of mineral rights in the Labrador Trough. These new claims cover a large folded pluri-kilometric ultramafic-mafic complex known, in this section of the Trough, for its strong exploration potential for PGE.

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