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{{Infobox company
{{Infobox company
| name = Mitsui Oil Exploration Co.
| name = Mitsui Oil Exploration Co. <br /> 三井石油開発株式会社
| logo =
| logo =
| caption =
| caption =
| type =
| type =
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| fate =
| predecessor =
| predecessor =
| successor =
| successor =
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| foundation = 1969
| founder =
| founder =
| defunct =
| defunct =
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| fate =
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| location_city = [[Minato, Tokyo|Minato]], [[Tokyo]]
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| location_country = [[Japan]]
| location =
| location =
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| location_city = [[Minato, Tokyo|Minato]], [[Tokyo]]
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| location_country = Japan
| locations =
| locations =
| area_served =
| area_served =
| key_people =
| key_people =Mitsuo Hidaka <small>(President & CEO)</small>
| industry = [[Oil and gas industry]]
| industry = [[Oil and gas industry]]
| products =
| products =
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| assets =
| assets =
| equity =
| equity =
| owner =[[Mitsui & Co.]] (73.35%) <br /> [[Ministry of Economy, Trade and Industry]] (20.03%)
| owner =
| num_employees =
| num_employees =
| parent = [[Mitsui & Co.]]
| parent = [[Mitsui & Co.]]
| divisions =
| divisions =
| subsid =
| subsid =MOEX USA, Corp. <br /> MOEX Offshore LLC.
| homepage = [http://www.moeco.co.jp/english/ www.moeco.co.jp]
| homepage = {{URL|moeco.co.jp}} {{URL|http://www.moeco.co.jp/english/|(en)}}
| footnotes =
| footnotes =
| intl =
| intl =
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| foundation = {{Start_date|1969|07|19}}
}}
}}


{{Nihongo|'''Mitsui Oil Exploration Co., Ltd.'''|三井石油開発株式会社|Mitsui Sekiyu Kaihatsu Kabushiki-gaisha}} ('''MOECO''') is an [[oil exploration]] subsidiary of [[Mitsui & Co.]] that specializes in [[natural gas]]. It has its headquarters in the Hibiya Central Building in [[Nishi-Shinbashi]], [[Minato, Tokyo|Minato]], [[Tokyo]].<ref>"[http://www.moeco.co.jp/en/about/data.html Company Information]." ([http://www.moeco.co.jp/en/images/about/data_img01.gif Direct link to map]) Mitsui Oil Exploration Co. Retrieved on July 11, 2010.</ref>
{{Nihongo|'''Mitsui Oil Exploration Co., Ltd.'''|三井石油開発株式会社|Mitsui Sekiyu Kaihatsu Kabushiki-gaisha}} ('''MOECO''') is an [[oil exploration]] subsidiary of [[Mitsui & Co.]] that specializes in [[natural gas]]. It has its headquarters in the Hibiya Central Building in [[Nishi-Shinbashi]], [[Minato, Tokyo|Minato]], [[Tokyo]].<ref>"[http://www.moeco.co.jp/en/about/data.html Company Information] {{webarchive|url=https://web.archive.org/web/20100615204829/http://www.moeco.co.jp/en/about/data.html |date=2010-06-15 }}." ([http://www.moeco.co.jp/en/images/about/data_img01.gif Direct link to map] {{webarchive|url=https://web.archive.org/web/20120308081330/http://www.moeco.co.jp/en/images/about/data_img01.gif |date=2012-03-08 }}) Mitsui Oil Exploration Co. Retrieved on July 11, 2010.</ref>


It was one of 17 Mitsui companies that were spun off on July 19, 1969.<ref>{{cite web|url=http://www.moeco.co.jp/en/about/data.html |title=Company Information |publisher=MOECO |date= |accessdate=2010-06-18}}</ref>
It was one of 17 Mitsui companies that were spun off on July 19, 1969.<ref>{{cite web |url=http://www.moeco.co.jp/en/about/data.html |title=Company Information |publisher=MOECO |accessdate=2010-06-18 |url-status=dead |archiveurl=https://web.archive.org/web/20100615204829/http://www.moeco.co.jp/en/about/data.html |archivedate=2010-06-15 }}</ref>


Its core areas are Thailand, where it drills principally in the [[Gulf of Thailand]] in conjunction with [[Chevron Corporation|Chevron]],<ref>{{cite web|url=http://www.moeco.co.jp/en/project/thailand.html |title=Thailand &#124; Project |publisher=MOECO |date=2009-11-18 |accessdate=2010-06-18}}</ref> and [[Vietnam]] and [[Cambodia]].
Its core areas are [[Thailand]], where it drills principally in the [[Gulf of Thailand]] in conjunction with [[Chevron Corporation|Chevron]],<ref>{{cite web |url=http://www.moeco.co.jp/en/project/thailand.html |title=Thailand &#124; Project |publisher=MOECO |date=2009-11-18 |accessdate=2010-06-18 |url-status=dead |archiveurl=https://web.archive.org/web/20100617055229/http://www.moeco.co.jp/en/project/thailand.html |archivedate=2010-06-17 }}</ref> and [[Vietnam]] and [[Cambodia]].
<ref>{{cite web|url=http://www.moeco.co.jp/english/about/history_archives.html |title=Mitsui Oil Exploration Co., Ltd.: About MOECO |publisher=Moeco.co.jp |date= |accessdate=2010-06-18}}</ref> As of March 31, 2010 Mitsui & Co. owns 69.91% of the company. The [[Ministry of Economy, Trade and Industry]] owns 20.03%. Yoshiyuki Kagawa is the President & Chief Executive Officer. It has 110 employees.
<ref>{{cite web |url=http://www.moeco.co.jp/english/about/history_archives.html |title=Mitsui Oil Exploration Co., Ltd.: About MOECO |publisher=Moeco.co.jp |accessdate=2010-06-18 |url-status=dead |archiveurl=https://web.archive.org/web/20091004011835/http://www.moeco.co.jp/english/about/history_archives.html |archivedate=2009-10-04 }}</ref> As of March 31, 2010 Mitsui & Co. owns 73.35% of the company. The [[Ministry of Economy, Trade and Industry]] owns 20.03%. Mitsuo Hidaka is the President & Chief Executive Officer.<ref>{{Cite web
| url = http://www.moeco.com/en/about/data.html
| title = Company Information {{!}} Company Information {{!}} MOECO
| website = www.moeco.com
| access-date = 2016-02-26
}}</ref>


==United States operations==
==United States operations==
In the United States its subsidiary is MOEX USA Corp<ref>{{cite web|url=http://www.moeco.co.jp/english/project/index.html |title=Mitsui Oil Exploration Co., Ltd.: Project |publisher=Moeco.co.jp |date= |accessdate=2010-06-18}}</ref> and is headquartered in 9 [[Greenway Plaza]] in [[Houston]].
In the United States Mitsui's subsidiary is MOEX USA Corp<ref>{{cite web |url=http://www.moeco.co.jp/english/project/index.html |title=Mitsui Oil Exploration Co., Ltd.: Project |publisher=Moeco.co.jp |accessdate=2010-06-18 |url-status=dead |archiveurl=https://web.archive.org/web/20090710023408/http://www.moeco.co.jp/english/project/index.html |archivedate=2009-07-10 }}</ref> and is headquartered in 9 [[Greenway Plaza]] in [[Houston]].


In September 2007 it established subsidiary MOEX Offshore 2007 LLC which entered into a partnership with [[BP]] for drilling in the [[Gulf of Mexico]].<ref>{{cite web|url=http://www.moeco.co.jp/english/project/usa-moexusa.html |title=Mitsui Oil Exploration Co., Ltd.: Project: U.S.A |publisher=Moeco.co.jp |date= |accessdate=2010-06-18}}</ref> On April 20, 2010, its rig the [[Deepwater Horizon]] [[Deepwater Horizon explosion|exploded]] and sank, causing a massive [[Deepwater Horizon oil spill|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 [[Deepwater Horizon explosion#Lawsuits|resolving the multiple claims]].<ref>{{cite news|url=http://www.marketwatch.com/story/bp-settles-with-moex-over-macondo-spill-2011-05-20 |title=BP settles with Mitsui arm over Macondo spill|publisher=[[MarketWatch]]|author=Kennedy, Simon|date= May 20, 2011<!-- 7:49 a.m. EDT-->|accessdate= 2011-05-20}}</ref>
In September 2007 it established subsidiary MOEX Offshore 2007 LLC which entered into a partnership with [[BP]] for drilling in the [[Gulf of Mexico]].<ref>{{cite web |url=http://www.moeco.co.jp/english/project/usa-moexusa.html |title=Mitsui Oil Exploration Co., Ltd.: Project: U.S.A |publisher=Moeco.co.jp |accessdate=2010-06-18 |url-status=dead |archiveurl=https://web.archive.org/web/20100527101652/http://www.moeco.co.jp/english/project/usa-moexusa.html |archivedate=2010-05-27 }}</ref> On April 20, 2010, its rig the ''[[Deepwater Horizon]]'' [[Deepwater Horizon explosion|exploded]] and sank, causing a massive [[Deepwater Horizon oil spill|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 [[Deepwater Horizon explosion#Lawsuits|resolving the multiple claims]].<ref>{{cite news|url=http://www.marketwatch.com/story/bp-settles-with-moex-over-macondo-spill-2011-05-20 |title=BP settles with Mitsui arm over Macondo spill|publisher=[[MarketWatch]]|author=Kennedy, Simon|date= May 20, 2011<!-- 7:49 a.m. EDT-->|accessdate= 2011-05-20}}</ref>


In February, 2010, through subsidiary Mitsui E&P USA LLC ("MEPUSA") it acquired 32.5% of [[Anadarko Petroleum Corporation]]'s interest in the [[Marcellus Formation|Marcellus Shale]] gas project in [[Pennsylvania]] (thereby acquiring 15.5% interest in the entire project lease and approximately {{convert|100000|acres|0|abbr=on}} of land).<ref>{{cite web|url=http://www.mitsui.co.jp/en/release/2010/1190155_3894.html |title=News Releases &#124; Participation in the Shale gas projects in Pennsylvania - MITSUI & CO., LTD |publisher=Mitsui.co.jp |date= |accessdate=2010-06-18}}</ref>
In February, 2010, through subsidiary Mitsui E&P USA LLC ("MEPUSA") it acquired 32.5% of [[Anadarko Petroleum]]'s interest in the [[Marcellus Formation|Marcellus Shale]] gas project in [[Pennsylvania]] (thereby acquiring 15.5% interest in the entire project lease and approximately {{convert|100000|acres|0|abbr=on}} of land).<ref>{{cite web |url=http://www.mitsui.co.jp/en/release/2010/1190155_3894.html |title=News Releases &#124; Participation in the Shale gas projects in Pennsylvania - MITSUI & CO., LTD |publisher=Mitsui.co.jp |accessdate=2010-06-18 |url-status=dead |archiveurl=https://web.archive.org/web/20100328233009/http://www.mitsui.co.jp/en/release/2010/1190155_3894.html |archivedate=2010-03-28 }}</ref>


==References==
==References==
{{reflist}}
{{Reflist}}


==External links==
==External links==
{{Portal|Tokyo|Companies}}
{{Portal|Tokyo|Companies}}
* [http://www.moeco.co.jp/english/ Mitsui Oil Exploration Co.]
* [https://web.archive.org/web/20101205073620/http://www.moeco.co.jp/english/ Mitsui Oil Exploration Co.]
* [http://www.moeco.co.jp Mitsui Oil Exploration Co.] {{ja icon}}
* [https://web.archive.org/web/20100414221752/http://www.moeco.co.jp/ Mitsui Oil Exploration Co.] {{in lang|ja}}

{{Deepwater}}
{{Deepwater}}
{{Authority control}}


[[Category:Companies based in Tokyo]]
[[Category:Mitsui & Co.|*]]
[[Category:1969 establishments in Japan]]
[[Category:Oil companies based in Tokyo]]
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[[Category:Oil companies of Japan]]
[[Category:Natural gas companies of Japan]]
[[Category:Natural gas companies of Japan]]
[[Category:Mitsui & Co.]]
[[Category:Energy companies established in 1969]]
[[Category:Companies established in 1969]]
[[Category:Non-renewable resource companies established in 1969]]
⚫
[[Category:1969 establishments in Japan]]
[[Category:Oil exploration]]

Latest revision as of 19:06, 26 April 2021

Mitsui Oil Exploration Co.
三井石油開発株式会社
IndustryOil and gas industry
FoundedJuly 19, 1969 (1969-07-19)
Headquarters
Minato, Tokyo
,
Japan
Key people
Mitsuo Hidaka (President & CEO)
OwnerMitsui & Co. (73.35%)
Ministry of Economy, Trade and Industry (20.03%)
ParentMitsui & Co.
SubsidiariesMOEX USA, Corp.
MOEX Offshore LLC.
Websitemoeco.co.jp (en)

Mitsui Oil Exploration Co., Ltd. (三井石油開発株式会社, Mitsui Sekiyu Kaihatsu Kabushiki-gaisha) (MOECO) is an oil exploration subsidiary of Mitsui & Co. that specializes in natural gas. It has its headquarters in the Hibiya Central Building in Nishi-Shinbashi, Minato, Tokyo.[1]

It was one of 17 Mitsui companies that were spun off on July 19, 1969.[2]

Its core areas are Thailand, where it drills principally in the Gulf of Thailand in conjunction with Chevron,[3] and Vietnam and Cambodia. [4] As of March 31, 2010 Mitsui & Co. owns 73.35% of the company. The Ministry of Economy, Trade and Industry owns 20.03%. Mitsuo Hidaka is the President & Chief Executive Officer.[5]

United States operations

[edit]

In the United States Mitsui's subsidiary is MOEX USA Corp[6] and is headquartered in 9 Greenway Plaza in Houston.

In September 2007 it established subsidiary MOEX Offshore 2007 LLC which entered into a partnership with BP for drilling in the Gulf of Mexico.[7] On April 20, 2010, its rig the Deepwater Horizon 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.[8]

In February, 2010, through subsidiary Mitsui E&P USA LLC ("MEPUSA") it acquired 32.5% of Anadarko Petroleum's interest in the Marcellus Shale gas project in Pennsylvania (thereby acquiring 15.5% interest in the entire project lease and approximately 100,000 acres (40,469 ha) of land).[9]

References

[edit]
  1. ^ "Company Information Archived 2010-06-15 at the Wayback Machine." (Direct link to map Archived 2012-03-08 at the Wayback Machine) Mitsui Oil Exploration Co. Retrieved on July 11, 2010.
  2. ^ "Company Information". MOECO. Archived from the original on 2010-06-15. Retrieved 2010-06-18.
  3. ^ "Thailand | Project". MOECO. 2009-11-18. Archived from the original on 2010-06-17. Retrieved 2010-06-18.
  4. ^ "Mitsui Oil Exploration Co., Ltd.: About MOECO". Moeco.co.jp. Archived from the original on 2009-10-04. Retrieved 2010-06-18.
  5. ^ "Company Information | Company Information | MOECO". www.moeco.com. Retrieved 2016-02-26.
  6. ^ "Mitsui Oil Exploration Co., Ltd.: Project". Moeco.co.jp. Archived from the original on 2009-07-10. Retrieved 2010-06-18.
  7. ^ "Mitsui Oil Exploration Co., Ltd.: Project: U.S.A". Moeco.co.jp. Archived from the original on 2010-05-27. Retrieved 2010-06-18.
  8. ^ Kennedy, Simon (May 20, 2011). "BP settles with Mitsui arm over Macondo spill". MarketWatch. Retrieved 2011-05-20.
  9. ^ "News Releases | Participation in the Shale gas projects in Pennsylvania - MITSUI & CO., LTD". Mitsui.co.jp. Archived from the original on 2010-03-28. Retrieved 2010-06-18.
[edit]
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