Mitsui Oil Exploration Mitsui Oil Exploration It was one of 17 Mitsui companies that were spun off on July 19, 1969. Its core areas are Thailand, where it drills principally in the Gulf of Thailand in conjunction with Chevron, and Vietnam and Cambodia. In the United States Mitsui's subsidiary is MOEX USA Corp and is headquartered in 9 Greenway Plaza in Houston. In September 2007 it established subsidiary MOEX Offshore 2007 LLC which entered into a partnership with BP for drilling in the Gulf of Mexico. On April 20, 2010, its rig the Deepwater Horizon exploded and sank, causing a massive oil spill.
Economic effects of the Deepwater Horizon oil spill the total liability could amount to as much as by the conclusion of the disaster. Financial analysts commented that BP was capable of addressing the potential liabilities that might result, and BP stock rose slightly on the news that the initial compensation fund had been agreed. On 5 July 2010, BP reported that its own expenditures on the oil spill had reached $3.12 billion, including the cost of the spill response, containment, relief well drilling, grants to the Gulf states, claims paid, and federal costs. As of 1 October 2010, BP has spent $11.2 billion. As of March 2012, BP