Hardy Oil not to raise stake in Reliance gas block - Economic Times

By
Viraj
on May 6, 2011 1:14 PM | | TrackBacks (0)
NEW DELHI: UK's Hardy Oil and Gas Plc today said it will not exercise the option to raise its stake in a Reliance Industries-operated gas block, which is one of the 23 areas where the Mukesh Ambani firm is selling 30 per cent interest to BP Plc for USD 7.2 billion.

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Reliance is selling a stake in 23 oil and gas block it had won under various rounds of New Exploration Licensing Policy (NELP) rounds along with partners like Niko Resources of Canada and Hardy since 1999.

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The UK firm holds a 10 per cent stake each in the Reliance-operated D3 and D9 blocks in the Krishna-Godavari Basin and onland Assam-Arakan basin block AS-ONN-2000/1.

Hardy Oil not to raise stake in Reliance gas block - Economic Times

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This page contains a single entry by Viraj published on May 6, 2011 1:14 PM.

Oil and Natural Gas Corporation's FPO to open on July 5 - Economic Times was the previous entry in this blog.

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