Mitsui Oil wins 4 pc drilling interest off Thailand

Asian Economic News, June 7, 1999

TOKYO, June 1 Kyodo

Mitsui Oil Exploration Co. said Tuesday its wholly owned subsidiary in Tokyo, Moeco Thailand Co., has executed a supplementary petroleum concession with the Thai government and acquired a 4% undivided interest in three mining blocks in the Gulf of Thailand. The three offshore blocks totaling 3,900 square meters are located 250 kilometers from Songkhla and are expected to produce natural gas, condensate and crude oil, Mitsui said.

PTT Exploration and Production Public Co. of Thailand put up 20 % of its interest in the blocks for an international tender last year. Unocal Corp. of the United States won the remaining 16 % through its local subsidiary.

Trial drilling in the blocks is expected to begin at the end of this year.