A North American unit of Japanese trading giant Mitsui & Co has announced it will buy 20% working interests in four Gulf of Mexico oil and gas blocks from a subsidiary of Royal Dutch Shell, according to Reuters.
The announcement from the unit Mitsui Oil Exploration (Moex) North America did not say the price agreed for the blocks in the Mississippi Canyon in the north-central Gulf, 60 miles south-southeast of New Orleans in Louisiana, an area which encompass Shell’s Circius and Kaikias fields.
These blocks, at a depth of about 4,300 feet, are estimated to contain around 100 million barrels of oil equivalent (BOE) and production could begin in early 2019.
