Formed February 29, 2004 Website [1] Founded 29 February 2004 | Jurisdiction Japan Headquarters Tokyo Number of employees 475 (as of April 1, 2012) | |
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Annual budget 1,564 Billion Yen (2010 Fiscal Year) Agency executive President, Hirobumi Kawano Parent agency Independent administrative institution Subsidiaries Japan South Sakha Oil Co., Ltd., JSC INK-Sever, Japan China Oil Development Corp | ||
Japan Oil, Gas and Metals National Corporation (石油天然ガス・金属鉱物資源機構), also known as JOGMEC, is a Japanese government Independent Administrative Institution which was created in 2004 when the former Japan National Oil Corporation merged with the former Metal Mining Agency of Japan.
Contents
History
JOGMEC integrates corollary functions in one administrative entity. The former Japan National Oil Corporation (JNOC) had been tasked with securing a stable supply of oil and natural gas for Japan's use. The former Metal Mining Agency of Japan (MMAJ) had been tasked with ensuring a stable supply of nonferrous metal and mineral resources for Japan's use. Greater efficiencies were realized by combining two bureaucracies with similar missions. JOGMEC was established in 2004 pursuant to the 2002 Law Concerning the Japan Oil, Gas and Metals National Corporation.
In March 2013, JOGMEC becomes the first to successfully extract methane hydrate from seabed deposits.
Public listing
JOGMEC was publicly listed in December 2003. At that time the indebted Japan National Oil Corporation (JNOC), now part of the Japan Oil, Gas and Metals National Corporation. It was the first of JNOC's subsidiaries to go public.
Activities
JOGMEC's Geological Remote Satellite Sensing Centre in Lobatse, Botswana was created in partnership with the southern African nation's Department of Geological Survey in July 2008. The Japan-Botswana partnership will work together in developing the exploration of minerals through methods such as remote sensing.
JOGMEC manages rare metal stockpiles in conjunction with private companies.