Petsec revealed Wednesday it had completed the acquisition of fellow company AWE's 21.25% stake in the block as well as Japanese company Mitsui E&P's 8.5% interest.

Petsec originally agreed deals last year to buy AWE's stake in the block for $1 million and Misui's for $400,000.

Earlier this year it also agreed a deal with Australia-listed Oil Search to buy its 34% interest in the block, giving it a combined 64.75%