Eneos aims to achieve carbon neutrality for its operations by 2040. Credit: gloriaurban4 from Pixabay.

JX Nippon Oil & Gas Exploration has agreed to acquire the entire issued share capital of Tokyo-based offshore driller Japan Drilling Company (JDC) from funds related to the Aspirant Group.

Financial terms of the deal have not been disclosed by the companies.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Upon the closing of the transaction, JDC will become JX Nippon’s consolidated subsidiary.

JX Nippon, a subsidiary of Eneos Holdings, will continue to work as a partner with JDC to increase the latter’s corporate value and accelerate growth. ENEOS Group aims to achieve carbon neutrality for its operations by 2040.

JX Nippon expects the acquisition of JDC to further strengthen its competitiveness in the oil and natural gas development business.

See Also:

In a press statement, JX Nippon said: “Drilling wells to inject and store CO₂ underground is an important technological component of the carbon capture and storage/carbon capture, usage and storage (CCS/CCUS) value chain, and JDC’s participation will further reinforce the CCS/CCUS value chain offered by the Eneos Group and enhance its set-up and capabilities to help Japan achieve its carbon neutrality plan.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Subject to regulatory approvals, the transaction is scheduled to be complete by the end of April 2023.

JDC is the said to be Japan’s only company engaged in the offshore drilling business.

In January 2023, JX Nippon, Eneos Group, and Electric Power Development (J-Power) have agreed to form a joint venture (JV) to accelerate the commercialisation of domestic CCS.

The JV, called West Japan Carbon Dioxide Storage Survey Co., is undertaking a feasibility study for large-scale CCS in Japan.