• Bloomberg


Idemitsu Kosan Co., Japan’s second-largest refiner, and partners including Norsk Hydro ASA have received approval from the Norwegian government to develop a 47 billion yen gas project in the North Sea, the company said Monday.

Idemitsu will invest about 7 billion yen to produce gas and condensate, a type of light-grade crude oil, according to a statement issued by the company in Tokyo. The offshore Vega South Gas field is 135 km northwest of Bergen, Norway.

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