Japanese trading house Mitsui & Co. said Dec. 5 it has agreed to buy a 20% stake in four blocks in the U.S. offshore oil and gas fields in the Gulf of Mexico (GoM) from Royal Dutch Shell Plc (NYSE: RDS.A) for an undisclosed amount. The move follows Mitsui’s other investment decisions earlier this year including co-development of the Greater Enfield oil reserves off Western Australia and an $8 billion expansion of the Tangguh LNG project in Indonesia which is led by BP Plc (NYSE: BP), taking advantage of the recent drop in commodity prices. In its latest deal, Mitsui Oil Exploration Co. will buy the 20% stake in four blocks in the Mississippi Canyon, located about 100 km (62 miles) south-southeast of New Orleans, in the GoM from a Shell subsidiary.
展开▼
