Mitsui takes buy 20% stake in US Gulf of Mexico blocks from Shell

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.


Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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