Mitsubishi farms into Anadarko’s Liberian project

21 October 2011, Sweetcrude, Monrovia – Mitsubishi has bought a 10% interest from Anadarko in a petroleum gas exploration project in Liberia as the Japanese company looks to explore offshore fields in western Africa, according to Reuters.

Japan’s biggest trading company will initially contribute around 1 billion yen ($13 million) for the rights and other costs and will pitch in additional funds as drilling progresses, Reuters quoted the Nikkei business daily as saying.

Mitsubishi and Spanish energy company Repsol YPF SA had each acquired 10% of the rights to Block LB-10, located off the coast of Liberia.

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