Inpex to Spend 200 Billion Yen a Year on Oil Fields

Inpex Holdings Inc., Japan’s largest oil explorer, said it will spend more than 200 billion yen ($1.7 billion) annually to search and develop oil and gas fields over the next three to four years.

The annual investment will include developing Indonesian gas fields, Chairman Kunihiko Matsuo, 71, said in an interview at the company’s Tokyo headquarters. Inpex Holdings was created by Inpex Corp.’s acquisition of Teikoku Oil Co. last year.