Fosun International Limited has bought Roc Oil Company via its subsidiary, Transcendent Resources Limited. It acquired over 92pc of its outstanding shares. Roc is an Australian upstream explorer, developer and producer of oil and gas, and it operates in Malaysia, Australia, China and the UK North Sea.
In the UK, its production fields include the B&E oil field. Last year it produced 7,260 b/oe daily, with $252 million in gross annual revenue and $96 million of gross profit. A strategic review of the company’s operation is now expected to take place.
Last updated on 10:26AM - 25/11/14