Mitsubishi Corp. Begins Oil Production in Offshore Gulf of Mexico and Assumes Operatorship.Tokyo, Japan, Sept 16, 2005 - (JCNN JCNN Japan Corporate News Network ) - Mitsubishi Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 8058) announced on September 15 that it has commenced oil production in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , offshore US, which is the sixth producing field in the gulf for the company. The company will assume full responsibility for developing and producing oil in the block as an operator. The combined peak production rate from all fields in the Gulf of Mexico is expected to ramp up to 20,000 barrels of oil equivalent per day (BOEPD BOEPD Barrels of Oil Equivalent Per Day ) in 2006. Mitsubishi, which has developed oil fields jointly with Tarpon Operating & Development of Texas, has acquired the US company's 30% working interest in the area and now holds a 100% working interest. The Japanese trading giant will take over the operatorship of the field, upon the completion of registration and obtaining necessary permits from the relevant authorities. Source: JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) http://www.japancorp.net Copyright [c] 2005 Japan Corporate News Network. All rights reserved. |
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