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Mitsubishi Buys Rights in Gas Project from Anadarko

Source: Reuters 10/20/2011, Location: Africa

Mitsubishi Corp has bought a 10 percent interest in a petroleum gas exploration project in Liberia from Anadarko Petroleum Corp as the Japanese company looks to explore offshore fields in western Africa, the Nikkei business daily said.

Japan's biggest trading company will initially contribute around 1 billion yen ($13 million) for the rights and other costs and will pitch in additional funds as drilling progresses, the daily said.

Mitsubishi and Spanish energy company Repsol YPF SA had each acquired 10 percent of the rights to Block LB-10, located off the coast of Liberia.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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