(MOECO) is an

oil exploration Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for deposits of hydrocarbons, particularly petroleum and natural gas, in the Earth using petroleum geology. Exploration methods Vis ...

subsidiary of Mitsui & Co. that specializes in

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

. It has its headquarters in the Hibiya Central Building in

Nishi-Shinbashi is a district of Minato, Tokyo, Japan. It is home to Toei Mita Line The is a subway line of the Tokyo Metropolitan Bureau of Transportation (Toei) network in Tokyo, Japan. The line runs between Nishi-Takashimadaira in Itabashi and Meguro ...

, Minato,

Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and List of cities in Japan, largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, ...

. It was one of 17 Mitsui companies that were spun off on July 19, 1969. Its core areas are

Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is b ...

, where it drills principally in the Gulf of Thailand in conjunction with

Chevron Chevron (often relating to V-shaped patterns) may refer to: Science and technology * Chevron (aerospace), sawtooth patterns on some jet engines * Chevron (anatomy), a bone * '' Eulithis testata'', a moth * Chevron (geology), a fold in rock ...

, and

Vietnam Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...

and

Cambodia Cambodia (; also Kampuchea ; km, កម្ពុជា, UNGEGN: ), officially the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula in Southeast Asia, spanning an area of , bordered by Thailan ...

. As of March 31, 2010 Mitsui & Co. owns 73.35% of the company. The

Ministry of Economy, Trade and Industry The or METI, is a ministry of the Government of Japan. It was created by the 2001 Central Government Reform when the Ministry of International Trade and Industry (MITI) merged with agencies from other ministries related to economic activities ...

owns 20.03%. Mitsuo Hidaka is the President & Chief Executive Officer.

United States operations

In the United States Mitsui's subsidiary is MOEX USA Corp and is headquartered in 9

Greenway Plaza Greenway Plaza is a business district located along Interstate 69 ( U.S. Highway 59) within the Interstate 610 loop in southwestern Houston, Texas, west of Downtown and east of Uptown. The district is located immediately west of Upper Kirby ...

Houston Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 i ...

. In September 2007 it established subsidiary MOEX Offshore 2007 LLC which entered into a partnership with BP for drilling in the

Gulf of Mexico The Gulf of Mexico ( es, Golfo de México) is an ocean basin and a marginal sea of the Atlantic Ocean, largely surrounded by the North American continent. It is bounded on the northeast, north and northwest by the Gulf Coast of the United ...

. On April 20, 2010, its rig the ''

Deepwater Horizon ''Deepwater Horizon'' was an ultra-deepwater, dynamically positioned, semi-submersible offshore drilling rig owned by Transocean and operated by BP. On 20 April 2010, while drilling at the Macondo Prospect, a blowout caused an explosion ...

'' exploded and sank, causing a massive oil spill. In May, 2011, MOEX Offshore, having had a 10% stake in the Deepwater Horizon through a subsidiary, agreed to pay US$1.07 billion to settle BP claims against it over the accident. Some analysts had thought BP would realize a larger settlement from MOEX but there was also relief to have a first step toward resolving the multiple claims. In February, 2010, through subsidiary Mitsui E&P USA LLC ("MEPUSA") it acquired 32.5% of

Anadarko Petroleum Anadarko Petroleum Corporation was a company engaged in hydrocarbon exploration. It was organized in Delaware and headquartered in two skyscrapers in The Woodlands, Texas: the Allison Tower and the Hackett Tower, both named after former CEOs of ...

's interest in the

Marcellus Shale Marcellus may refer to: * Marcellus (name) * Marcus Claudius Marcellus, Roman commander Places * Marcellus, Lot-et-Garonne, France * Marcellus Township, Michigan ** Marcellus, Michigan, a village in Marcellus Township ** Marcellus Community Sch ...

gas project in

Pennsylvania Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, ...

(thereby acquiring 15.5% interest in the entire project lease and approximately of land).

References

External links

Mitsui Oil Exploration Co.

Mitsui Oil Exploration Co.
{{Authority control * Oil companies based in Tokyo Natural gas companies of Japan Energy companies established in 1969 Non-renewable resource companies established in 1969 1969 establishments in Japan Oil exploration