Mitsui Farms Into Oman Block 27
Tuesday, October 22, 2002
Mitsui has acquired a 35% interest in Block 27 onshore Oman from Occidental. Block 27 is located west of Muscat and is approximately 2,500 square kilometers. The remaining 65% interest will be held by Occidental. Reserve estimates for the field are placed at "several tens of millions of barrels", Mitsui said.
Earlier this year, Mitsui acquired a 35% stake in Oman's Block 9 which is adjacent to Block 27. Block 9 has estimated oil reserves of 300 million barrels and is currently producing 46,000 barrels of oil per day.