Rubicon Oilfield International Holdings LLC has completed the acquisition of World Oil Tools Inc.
The target company offers inflatable products to the oil and gas industry throughout the US, as well as the international onshore and offshore markets.
The acquisition will allow Rubicon Oilfield to expand its completion solutions business.
Dassault Systemes S.A. has agreed to acquire AITAC BV for an undisclosed sum. The transaction also involves the acquisition of 40% of AITAC’s marine and offshore engineering office in Croatia.
AITAC offers Smart Drawings software for shipyards and offshore companies, and the acquisition is intended to strengthen Dassault Systemes' offerings.
Zeta Resources Limited has agreed to acquire the remaining 49.09% stake in Pan Pacific Petroleum NL for an estimated value of $8.17m.
The consideration will be funded via existing cash reserves and entitlements to cash in accordance with financing arrangements with UIL Limited, which is currently a member of the group.
The transaction will involve the transfer of one Zeta share, or $0.028 in cash a share, for every ten Pan Pacific shares held.
Pacific Petroleum holds 5% stake in Vietnam Block 07/03, which is located in the Nam Con Son Basin. The Block also includes the Ca Rong Do (CRD) oil and gas discovery.
Zeta Resources will own 100% stake in Pan Pacific, upon completion of the acquisition.