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Ocean buys 5% of Sudanese oil company |
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Wednesday, 26 March 2008 |
The Trai Ocean of Egyptian-Kuwaiti Holding Company said yesterday that it signed an agreement to purchase five percent in the Sudanese oil company Petrodar.
The Egyptian stock exchange web site reported that the company had signed an agreement with the Sudapet company owned by the Sudanese government.
The company said that Petrodar has concession rights in an area of seventy-four thousand Kiometers, and the reserves exceed one billion barrels and produces two hundred thousand barrels per day.
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