Japan’s Mitsui & Co. has sold all of its onshore oil and gas interests in three oil blocks in Oman to a UK-based Kistos Energy for $148 million.

The interests in blocks 3, 4 and 9 in the east of the sultanate were acquired by Mitsui E&P Middle East, a wholly owned subsidiary, in 2002, but will be divested as part of a portfolio reconfiguration, Mitsui said in a statement.

Mitsui E&P holds a 20 percent stake in onshore blocks 3 and 4, which are operated by CC Energy Development, and a 5 percent stake in onshore block 9, operated by Occidental of Oman. The

The Japanese company will continue to develop its upstream energy business as one of its core business domains, the statement said.

Mitsui expects to record a profit on the sale of the assets in the fourth quarter of the fiscal year ending March 2026, it said.

(Editing by Anoop Menon)(anoop.menon@lseg.com)

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