$5m. Oil Budget
A recent visit to Japan by Tongan Minister For Lands And Survey, Hon Laufilitonga Tuita, and the Tongan Crown Solicitor, Tevita Tupou has resulted in an agreement by both countries granting conditional rights to a Japanese consortium of oil exploration to start oil exploration and research into oil in the uppermost group of Tonga comprising of Vava'u and out-lying islands. This interest by the Japanese oil explorers and the present consortium of Webb/Tonga who have already started their survey with a positive “prospect but yet to find and drill for the quantity. Both these ventures are expected to reach $5 million in costs and other expenses - all to be wholly financed by the overseas partners.
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Bibliographic details
Mana (Auckland), Volume 1, Issue 4, 18 August 1977, Page 6
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118$5m. Oil Budget Mana (Auckland), Volume 1, Issue 4, 18 August 1977, Page 6
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