Inpex takes 26 pct stake in offshore block from ONGC
TOKYO (Reuters) - Japan's top oil and gas explorer, Inpex Corp (1605.T), said on Monday it had agreed to acquire a 26 percent stake in an offshore Indian exploration block, KG-DWN-2004/6, from state-run Oil and Natural Gas Corp(ONGC.NS).
After completion of the deal, which is subject to Indian government approval, exploration company ONGC will continue to serve as the block's operator, with a 34 percent stake, Inpex said. (Reporting by Osamu Tsukimori; Editing by Clarence Fernandez)
- Tweet this
- Share this
- Digg this
Trending On Reuters
The government sold a 10 percent stake in state-run behemoth Coal India on Friday, in a bumper sale which saw demand from institutional investors marginally exceed supply, giving a welcome boost to the government's faltering divestment drive. Full Article