Mitsui to Extend Thai Offshore Oil Field Pact

Japanese trading house Mitsui & Co. (8031.TO) said that a subsidiary, Mitsui Oil Exploration Co., has agreed to extend for 10 years the contract on its rights and interests in offshore oil and gas blocks in Thailand, according to a Dow Jones report. The Tokyo-based company said the unit, Chevron Corp. (CVX) and PTT Exploration & Production PCL (PTTEP.TH) have reached an agreement extending the accord, which was due to expire in April 2012, to April 2022. [Source: Dow Jones]