Scandoil  

Petsec Energy increases interest in Block 7, Yemen


Published Apr 20, 2015
Petsec Energy

Petsec Energy has executed an agreement with Oil Search Limited to acquire all the shares of its subsidiary Oil Search (ROY) Limited which holds a 34% participating interest in Block 7, Al Barqa Permit, in the Republic of Yemen, and is the designated operator of the Block.

The Oil Search agreement follows the agreements executed in 2014 with AWE Limited (21.25%) and Mitsui E&P Middle East B.V (8.5%) to acquire their respective Participating Interests in Block 7. The acquisition of Oil Search (ROY) Limited ('OSROY') increases Petsec's overall Participating Interest in Block 7 to 63.75%, and Petsec will assume operatorship of the Block.

Completion of the transaction is subject to customary approvals from the Government of Yemen, the Ministry of Oil and Minerals.

Tags: Petsec Energy Ltd




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml