Manufacturing News 09/04/2024, 06:45

Japan's Mitsui Group will invest $560 million in the Lot B - O Mon Project

On March 29, Japan's Mitsui Investment Group announced that it would invest about ¥84 billion ($560 million) in the Lot B - O Mon project.

Japan's Mitsui Group will invest $560 million in the Lot B - O Mon Project

The chain of Lot B gas projects (including upstream stages (gas plants), pipelines, and downstream (power plants)) has a total investment capital of over $10 billion. Natural gas from Lot B will supply four power plants, including O Mon I, II, III, and IV for more than 20 years.

These O Mon power plants will have a total capacity of approximately 3,800 MW when operational, making a significant contribution to national energy security.

The project is expected to begin operations at the end of 2026, with an estimated daily production capacity of 490 million cubic feet of gas. Mitsui Group has been conducting exploration since 1996, and Mitsui Oil Exploration Co., Ltd. (MOECO) holds a 23% stake in the upstream gas sector and a 15% stake in the gas pipeline sector.

Mitsui Oil Exploration Co., Ltd. (MOECO) is a subsidiary of Mitsui Group that operates primarily in the oil and gas exploration and production industry. The company operates in several countries, such as the USA, Thailand, Indonesia, Oman, and the UK.

CAFEF/ TRANSLATOR: NGỌC ÁNH
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