Oil India eyes shale gas assets abroad - Business Standard

State-run Oil India said today it was eying overseas shale gas assets in a possible consortium with Indian Oil Corporation and GAIL India. The government-controlled exploration company has hired seven banks to facilitate completion of at least one overseas acquisition this financial year.

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The banks — Citigroup, Morgan Stanley, Deutsche Bank, BNP Paribas, Nomura Bank International and Merrill Lynch — were appointed over a month before. The banks would provide the company a status report on the shale gas assets available for potential bidding in the US.

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More “We are looking at acquiring international shale gas assets in the US and Australia. We want to make at least one acquisition in this fiscal,” T K Ananth Kumar, director, finance, Oil India, told reporters on the sidelines of a conference in Mumbai.

Oil India eyes shale gas assets abroad - Business Standard