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10

Mitsubishi Buys a Stake in Anadarko Petroleum's Gulf Field

Mitsubishi Corp is going to buy a stake in an oil and gas field

Japan's biggest trading house Mitsubishi Corp., is going to buy a stake in an oil and gas field in the Gulf of Mexico owned by the US' Anadarko Petroleum Corporation.

The U.S. oil company said in March it had agreed to sell 23.2 percent of its interest in the K2 complex off the coast of Louisiana to two undisclosed parties for $1.2 billion.

The transaction is expected to close in the second quarter of 2007, the U.S. company said in a statement.