KUALA LUMPUR: National oil company Petronas through its subsidiary PC Oman Ventures Ltd has acquired a 10% stake in Block 61 of Oman’s Al Khazzan gasfield from Makarim Gas Development LLC.
Makarim Gas is a subsidiary of Oman Oil Company Exploration and Production LLC.
In a statement today, Petronas said the completion of the transaction was formalised at an event held in Muscat, Oman, on Dec 27, after the conditions for the transaction were fulfilled.
“Following the acquisition, PC Oman and Makarim Gas each hold a 10% and 30% stake respectively in Block 61, and BP Exploration Ltd as the operator, the remaining 60% stake.
“The acquisition marks an important step in realising Petronas’ growth strategy in the region’s upstream sector and globally, as it aligns its activities to ensure sustainable energy supply,” it said.