PNG

Petsec's brave Yemen gamble

PAPUA New Guinea-focused Oil Search has decided to get out of Yemen completely, selling its 34% in the Al Barqa permit to its newest joint venture partner Petsec, in what must be one of the most audacious purchases of the year by an Australian junior.

Petsec's brave Yemen gamble

Petsec recently appointed former Oil Search Yemen executive Maki Petkovski to run its Middle East operations, which includes a 63.75% interest in Block 7, up from 29.75%, with Oil Search's 34% share. ...

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