Dubai: RAK Petroleum, the oil and gas exploration and production company, announced on Sunday that it has acquired Indago Ventures 31 Limited and Indago Ventures 47 Limited, both wholly-owned subsidiaries of UK-based Indago Petroleum Limited, which hold exploration rights in two concessions in the Sultanate of Oman.
The acquisition of Indago's 50 per cent share in Oman's Block 31 and 47 brings RAK Petroleum's interest in these blocks to 100 per cent.
RAK Petroleum acquired its existing 50 per cent interest in these two concessions from Indago in 2007 as part of a wider transaction including a 40 per cent share of Oman's Block 8.
Block 8 contains the offshore West Bukha oil field which came on production in February.
