British Gas owner Centrica Plc has acquired 22 per cent of oil and gas company Venture Production Plc’s issued share capital for £239.4 million.   

British Gas owner Centrica Plc has acquired 22 per cent of oil and gas company Venture Production Plc’s issued share capital for £239.4 million.   

Venture is based in Aberdeen and specialises in operating oil and gas fields with proven but untapped potential. Centrica acquired 33 million shares at 725p per share.

The deal comes after the Windsor-based utility giant Centrica reported robust trading figures, with revenue up by £7 billion from last year.

Sam Laidlaw, Centrica chief executive, said: “The financial performance in 2008 was good despite a much tougher environment, and we made strong progress against the strategic priorities we set out at the start of 2007.”