No 43



Mitsui To Acquire Fortums 35% Stake In Block 27

Mitsui and Co announced on 22 October that, along with its associated firm Mitsui Oil Exploration Company (MOEC), it is to purchase the 35% stake held by Finlands Fortum (formerly Neste Oy) in Block 27 in central northeast Oman. The block covers approximately 2,500 sq km and is situated around 250km southwest of Muscat. Oil reserves are estimated at around 50mn barrels. The remaining 65% interest in Block 27 is...