Abu Dhabi-based investment house Noor Capital said on Saturday it was acquiring 29 percent of UK's Victoria Oil and Gas along with a consortium of UAE and Gulf investors.
The consortium led by Falcon Petroleum Ltd will invest $36 million (18 million pounds) in Victoria Oil and Gas, which is listed on the London Stock Exchange Alternative Investment Market (AIM), Noor Capital said in a statement. It gave no further details.The consortium would have the option to bid for the whole company in the future, it added.
Victoria Oil & Gas is an AIM-listed oil and gas company in the London Stock Exchange operating in the oil and gas sector in the former Soviet Union. The company operates an oil producing field in Kazakhstan, and has exploration concessions in Siberia and Britain as Kazakhstan.
Falcon Petroleum Limited is an independent oil and Gas Exploration and Production operating company registered in Cyprus by a group of UAE and international partners. ( Reuters )