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FINANCIAL NEWS
Mubadala acquires 20% stake in Tanzanian oilfield
09 Oct 2011
(MENAFN) Mubadala Oil & Gas, a subsidiary of Abu Dhabi’s Investment fund (Mubadala) announced the acquisition of one-fifth share of an oil field in Tanzania, Arabian Business reported.
Mubadala has bought 20 percent stake in deepwater Block 7 from Dominion Petroleum Limited for USD20 million. The deal now is subject to Tanzanian government’s approval.
Mubadala last month announced a first-half profit for 2011, thanks to to higher commodity prices and increased contributions from its semiconductor business.
Dominion Petroleum is listed on London Stock Exchange and has exploration licenses for oil fields in Congo, Uganda, Kenya and Tanzania.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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