(MOECO) is an

oil exploration Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for hydrocarbon deposits, particularly petroleum and natural gas, in the Earth's crust using petroleum geology. Exploration methods V ...

subsidiary of Mitsui & Co. that specializes in

natural gas Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...

. 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 subway stations including Onarimon Station and Uchisaiwaichō Station, as well as medical school Jikei University School of Medicine. Education Minato City Board of Educatio ...

, Minato,

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

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

Thailand Thailand, officially the Kingdom of Thailand and historically known as Siam (the official name until 1939), is a country in Southeast Asia on the Mainland Southeast Asia, Indochinese Peninsula. With a population of almost 66 million, it spa ...

, where it drills principally in the

Gulf of Thailand The Gulf of Thailand (), historically known as the Gulf of Siam (), is a shallow inlet adjacent to the southwestern South China Sea, bounded between the southwestern shores of the Indochinese Peninsula and the northern half of the Malay Peninsula. ...

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 la ...

, and

Vietnam Vietnam, officially the Socialist Republic of Vietnam (SRV), is a country at the eastern edge of mainland Southeast Asia, with an area of about and a population of over 100 million, making it the world's List of countries and depende ...

and

Cambodia Cambodia, officially the Kingdom of Cambodia, is a country in Southeast Asia on the Mainland Southeast Asia, Indochinese Peninsula. It is bordered by Thailand to the northwest, Laos to the north, and Vietnam to the east, and has a coastline ...

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

Ministry of Economy, Trade and Industry The , METI for short, 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 acti ...

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 List of cities in Texas by population, most populous city in the U.S. state of Texas and in the Southern United States. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the county seat, seat of ...

. 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 () is an oceanic basin and a marginal sea of the Atlantic Ocean, mostly surrounded by the North American continent. It is bounded on the northeast, north, and northwest by the Gulf Coast of the United States; on the southw ...

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

Deepwater Horizon ''Deepwater Horizon'' was an ultra-deepwater, Dynamic positioning, dynamically positioned, Semi-submersible platform, semi-submersible offshore drilling Oil platform, rig owned by Transocean and operated by the BP company. On 20 April 2010, ...

'' exploded and sank, causing a massive

oil spill An oil spill is the release of a liquid petroleum hydrocarbon into the environment, especially the marine ecosystem, due to human activity, and is a form of pollution. The term is usually given to marine oil spills, where oil is released into th ...

. 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: People * Marcellus (name) * Marcellus of Ancyra, fourth-century Christian bishop and theologian * Marcus Claudius Marcellus, Roman commander * Marcellus of Tangier * Marcellus Empiricus * Marcellus (nephew of Augustu ...

gas project in

Pennsylvania Pennsylvania, officially the Commonwealth of Pennsylvania, is a U.S. state, state spanning the Mid-Atlantic (United States), Mid-Atlantic, Northeastern United States, Northeastern, Appalachian, and Great Lakes region, Great Lakes regions o ...

(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