OMV Aktiengesellschaft (OMV AG) has entered a heads of agreement to acquire 50% stake in Sapura Upstream from Sapura Energy for $1.6bn.

Based in Malaysia, Sapura Upstream (previously known as Sapura Exploration and Production) is an oil and gas firm and a wholly-owned subsidiary of Sapura Energy.  OMV Aktiengesellschaft is an integrated oil and gas company based in Australia.

The acquisition will enable both the acquirer and the target companies to expand their portfolio and business activities. It will also strengthen Sapura Energy’s portfolio of commercially feasible gasfields.

Kosmos Energy has completed the acquisition of Deep Gulf Energy (DGE) for $1.225bn.

The acquisition was made through a cash payment of $925m and through the issuance of $300m in Kosmos common shares.

The acquisition of DGE includes Deep Gulf Energy LP, Deep Gulf Energy II, Deep Gulf Energy III, and other associated entities.

Based in Bermuda, Kosmos Energy is an exploration and production company, while Deep Gulf Energy (DGE) is a US-based company involved in the exploration and production of oil and gas.

“The acquisition was made through a cash payment of $925m and through the issuance of $300m in Kosmos common shares.”

The acquisition will enable Kosmos Energy to expand its deepwater Atlantic Margin portfolio.

Eco (Atlantic) Oil & Gas has purchased the remaining 10% stake in Pan Africa Oil Namibia from Amis Oil and Gas.

The transaction is being executed through its subsidiary Pan Africa Oil Namibia Holdings, and includes the payment of 300,000 common shares of Eco to AMIS.

PAO Namibia will become a wholly owned subsidiary of Eco, following completion of the transaction.

Eco will hold all the issued share capital of PAO Namibia and 80% working interest in the Tamar Licence (PEL 050). The remaining 20% interest in the licence is owned by NamCor (the National Petroleum Corp of Namibia) and Spectrum Geo.

Pan African Oil is an exploration company, while Eco is engaged in the identification, acquisition, exploration and development of hydrocarbon assets.

All companies involved in the transaction are based in Canada.