Mineral Resources & Energy is a new business area for Sumitomo Corporation Europe. Whilst the business activities did previously exist the importance of this business area has been shown by the development of a standalone unit so that we can efficiently represent the fields of mineral resources and energy in Europe, Africa and Middle East.
On a worldwide basis, Sumitomo Corporation holds upstream interests in crude oil and gas, iron ore, coal, base metals such as copper, zinc/lead, nickel, as well as other mineral resources such as uranium, silver, gold and cobalt.
In Europe, we actively trade in carbon products, nickel, zinc and LPG, whilst targeting the expanding trading business for other products such as LNG, other base metals, metal concentrates and ferrous raw materials.
Since 1985 we have been investing in the Central North Sea through our subsidiary company, Summit Exploration & Production Ltd.
In 2012 we successfully drilled our first operated exploratory well, Orchid and we made a new discovery, Avalon, in 2014. We intend to continue our oil and gas upstream activities, not only in the Central North Sea, but in other areas such as the promising South Atlantic Basins.