In the driving seat’: DNeX earmarks £51.4m for Anasuria Cluster after completing Ping deal
- Date: 01-Jul-2021
- Source: Energy Voice
- Sector:Oil & Gas
- Country:Middle East
In the driving seat’: DNeX earmarks £51.4m for Anasuria Cluster after completing Ping deal
Malaysian firm Dagang NeXchange (DNeX) said it had earmarked £51.4 million for production boosting work at the UK North Sea Anasuria Cluster after completing the acquisition of compatriot Ping Petroleum.
DNeX, traditionally an IT and energy sector service provider, has now wrapped up the £56.5m purchase of a further 60% stake in Ping, taking its holdings to 90%.
The Malaysian-stock-exchange-listed firm is funding the deal, first announced in February, with £29m in cash and new shares.
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