The Kuwaiti oil and gas independent has come to an agreement with US firm Hunt Oil to acquire its Yemeni subsidiary, taking with it a 15% stake and operatorship of Block 5.

As part of its plan to further expand its asset portfolio in the region, Middle East and North Africa (MENA)-focused Kuwait Energy has concluded talks with Hunt Oil to buy out the Jannah Hood Oil Company (JHOC), which both operates and holds a 15% stake in Yemen’s producing Block 5 license, MEES learns. (CONTINUED - 810 WORDS)