• Kyodo News


AOC Holdings Co. said Friday its subsidiary, Arabian Oil Co., has acquired a 10 percent interest in a North Sea oil exploration area off the southwestern coast of Norway.

Arabian Oil’s arm Norske AEDC AS acquired the stake from Canadian oil explorer Talisman Energy Norge AS.

The deal for the area, which is 20 km east of the Gyda oil field where Norske AEDC has been tapping oil, is contingent on endorsement by the Norwegian government, the Japanese holding company said.

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