The Japanese major yesterday said it had acquired a stake in the Northern Block, about 220km southwest off the coast of Namibia.

Mitsui said decisions on further exploration for hydrocarbons in the Southern Block would be made after 3D seismic data analysis has been finished.

The company said it aims to participate in newly developing projects in the Atlantic market, where demand for energy is expected to grow.

It also acquired an interest in the Equatorial Guinea LNG Project in 2005.

“Mitsui hopes to meet growing demand for energy in the Atlantic market by discovering and commercialising energy resources, in cooperation with BHP Billiton … and PetroSA, which has vast knowledge and experience in exploring and developing oil and gas-related projects in Africa,” it said.

Mitsui has also partnered with BHPB in the liquefied natural gas project in Australia’s North West Shelf.

Interests in Northern Block 2813A and 2814B and Southern Block 2914A and adjacent acreage will now be BHPB (75%), Mitsui (15%) and PetroSA (10%).