RENEWaBLE power group Sea-Energy has increased its stake in Mesopotamia Petroleum Company (MPC) after shareholders pumped in GBP50,000 to the Iraqi-focused drilling outfit. MPC had been trying to buy drilling assets but yesterday revealed it had been unsuccessful. aberdeen-based SeaEnergy will see its share rise from 32.7 per cent to 40.21 per cent in the deal, under which new shares in MPC will be issued. Steve Remp, chairman of both aim-quoted SeaEnergy and MPC, will see his stake rise to 5.09 per cent, while SeaEnergy finance director Steven Bertram's share will rise to 0.45 per cent. MPC won a drilling contract from the Iraqi government in 2009. Ramco set up MPC before renaming itself SeaEnergy and shifting its focus from oil and gas to renewable power. SeaEnergy said MPC had agreed to delay payments to its creditors until it is able to raise finance to drill in Iraqi. In the meantime, MPC has "reduced its activities and expenditure".