Japan’s Mitsubishi Corp. acquired 20% of US-based Anadarko Petroleum’s interest in Block C1-103 off the coast of Côte d’Ivoire, becoming the first Japanese company to enter the oil and gas exploration business in the area.
|Map of Block C1-103. From Mitsubishi.
Block CI-103 is located approximately 50km off the coast of Côte d’Ivoire at 2000m water depth and is currently in appraisal.
The transfer is pending approval from the government of Côte d’Ivoire. The remaining partners, Anadarko, Tullow Oil and Côte d’Ivoire’s national oil company PETROCI have received approval to proceed with appraisal operations after confirmed oil and gas deposits at an exploratory well drilled in 2012.
Mitsubishi says that ever since the discovery of oil and gas deposits off the coast of neighboring Ghana several years ago, Côte d’Ivoire and the Western Coast of Africa, have also been attracting much international attention as an area for oil and gas wealth.
|Mitsubishi's oil & gas exploration off the Western Coast of Africa. From Mitsubishi.
Interests in Block C1-103 are now: Anadarko 35%, Tullow 30%, PETROCI 15% and Mitsubishi 20%.
Mitsubishi is also involved in oil and gas development projects in Southeast Asia, the US Gulf of Mexico, the British North Sea and Australia.
In May, Mitsubishi entered a venture with JX Nippon and Inpex to develop the Layang gas field off the coast of the Malaysia’s Sarawak state on Borneo. Layang is approximately 8km east of the producing Helan gas field in Block SK10. Production is slated to begin with a floating production, storage and offloading system in 2Q 2016.