Australia-listed Petsec Energy has increased its interest in Block 7 in Yemen to 100% after agreeing a deal with partner Kufpec.
Petsec said Tuesday it had signed an agreement to acquire Kufpec’s 25% interest in the block which contains the Al Meashar oil discovery.
It follows on from deals in recent years which have seen Petsec acquire stakes from previous partners such as Oil Search, AWE and Mitsui.
