The transaction involves transferring of 24.98% stake in the Gazprom’s blocks IV and V of Urengoy field located in the northern area of West Siberian Basin, Russia.
Tamarind Management Sdn Bhd has agreed to pay $1.5m to acquire all of the outstanding shares of AWE New Zealand Pty Ltd and AWE Taranaki Limited from AWE Limited.
AWE New Zealand and AWE Taranaki jointly hold 57.5% stake in Tui Area Oil Fields located in Taranaki Basin in offshore New Zealand.
Tui Area Oilfields will be owned by Tamarind Management (57.5%, operator), New Zealand Oil & Gas (27.5%) and Pan Pacific Petroleum (15%) upon completion of the transaction.
Scheduled for completion in the first quarter of 2017, the acquisition will allow Tamarind Management to expand its geographical footprint to New Zealand.