Kuwait's Kharafi Group, a family-owned business, has agreed to buy a 3 percent stake in Sudanese oil company Petrodar Operating Co from a Dubai-based firm, the official Kuwait News Agency reported on Sunday.
Al Thani Corp, which belongs to investors in the United Arab Emirates, sold the remainder of its 5 percent stake to state-owned Sudan Petroleum Co (Sudapet).
Thani sold its stake for a total of $500 million, the agency quoted an executive at Sudapet as saying. He did not give further details.
The deal would raise Sudapet's stake to 10 percent in Petrodar, which operates the Dar Blend field. Dar's exports were estimated at about 200,000 barrels per day in mid-2007. The African nation produces around 500,000 bpd of crude oil.
Petrodar was set up to explore, develop and produce oil and gas from blocks 3 and 7 in the south east with a total area of about 72,000 square km (27,800 square mile).
China National Petroleum Corp (CNPC) holds a 41 percent stake in Petrodar and Malaysia's Petronas [PETR.UL] owns 40 percent.
Reuters
