FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Mitsui Approves the Final Investment Decision of the Vincent Oil Project in
Offshore Australia
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of March 27, 2006
Commission File Number 09929
Mitsui & Co., Ltd.
(Translation of registrant’s name into English)
2-1, Ohtemachi 1-chome Chiyoda-ku, Tokyo 100-0004 Japan
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F X Form 40-F
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Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: March 27, 2006
| MITSUI & CO., LTD. | ||
| By: | /s/ Kazuya Imai | |
| Name: | Kazuya Imai | |
| Title: | Executive Director | |
| Senior Executive Managing Officer | ||
| Chief Financial Officer | ||
March 27, 2006
For Immediate Release
To Whom It May Concern
Mitsui & Co., Ltd.
Mitsui Approves the Final Investment Decision of the Vincent Oil Project in Offshore Australia
Mitsui & Co., Ltd. (“Mitsui”) announces that its wholly owned subsidiary, Mitsui E&P Australia Pty Ltd. (“MEPAU”), approved the Final Investment Decision of the Vincent oil project, alongside Joint Venture partner Woodside Energy Ltd. (“Woodside”). Details of the Vincent project are as follows:
| • Location: |
Permit Block WA-28-L in Offshore Northwestern Australia | |
| • Development Cost: |
Approx. 720 Million U.S. Dollars | |
| (Net Cost for Mitsui: Approx. 290 Million U.S. Dollars) | ||
| • Schedule: |
Production to Commence in 2008 | |
| • Peak Production: |
Approx. 100,000 Barrels per Day | |
| • Operator: |
Woodside (60% Share Holder) | |
In March of 2004, MEPAU acquired its 40% interest in each of WA-28-L and exploration block WA-271-P, which together contained three discovered but undeveloped oil fields: Enfield, Vincent, and Laverda. Enfield is currently under development with production scheduled to commence later this year, with peak production expected to be approximately 100,000 barrels per day.
Woodside is the largest oil and gas exploration and production company in Australia with a vast experience as an operator, including the operatorship role in the North West Shelf LNG Project, in which Mitsui also participates in. Mitsui has placed the Oceania region as one of its core areas of the Exploration and Production businesses, and aims to pursue continuous development and production of natural resources in the future.
For further information, please contact:
Mitsui & Co., Ltd.
Investor Relations Division
Tel: +81-3-3285-7910
Corporate Communications Division
Tel: +81-3-3285-7562
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Attachment: Map of the Permit Blocks:
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui’s latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us. Such securities may not be offered or sold in the United States unless registration requirements or an applicable exemption from registration requirements under the U.S. Securities Act of 1933 are met.
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