Joint hunt for oil
NZPA-Reuter Tokyo An ambitious joint Japan-South Korea project to tap the East China Sea’s continental shelf for oil will be launched soon, the Nippon Oil Company has said. It said its Japanese subsidiary, the Nippon Oil Development Company, will begin a test drilling in the joint project with Korean interests from next month in the 12,500 sq. . km area in the sea be- - tween the two countries. ; The project involves the Nippon Oil Development Company, Texaco Korea. Chevron Korea, and the Lucky Oil Company, of Korea, it said. The joint undertaking has been given the go-head by both Governments of Seoul and Tokyo under a 50-year Government agreement ratified in June. 1978, , to develop a vast zone in ■ tKe continental shelf of the East China Sea.
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Press, 10 April 1980, Page 27
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130Joint hunt for oil Press, 10 April 1980, Page 27
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