Dubai-based RAK Petroleum has purchased U.K.-based Heritage Oil Ltd.’s Oman business Eagle Energy for $28 million, a price that includes a 10 percent stake in the Sultanate’s prolific Block 8.

RAK’s now has a 50 percent stake in acreage producing 10,000 barrels a day of oil and 30 million cubic feet per day of gas out in the historic Strait of Hormuz. Two wells produce from a six-slot unmanned platform in 90 metres of water some 25 kilometers offshore.

RAK spending put a 12-inch multi-phase flow-line to the Bukha platform and a 33 km, 16-inch line to process plant onshore at Khor Khwair in the Emirate of Ras Al Khaimah.

In a statement, RAK said it was not done investing in Oman and had plans for a North American spending spree.

Tags: Heritage Oil Limited, RAK Petroleum