Inpex unit gets Gulf of Mexico stake

Kyodo

Teikoku Oil (North America) Co., a subsidiary of Inpex Corp., will acquire a 7.2 percent participating interest in a deepwater oil and gas development project in the Gulf of Mexico from a unit of U.S. company Anadarko Petroleum Corp.

The remaining participating interest holders in the Lucius project, located some 380 km southwest of Port Fourchon, Louisiana, will include Anadarko at 27.8 percent, Plains at 23.331 percent and Exxon Mobil at 15 percent, according to Inpex.

The output will be processed by a truss spar floating facility with capacity in excess of 80,000 barrels of oil and 450 million cu. feet of gas per day to be shipped to Louisiana via an underwater pipeline.