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<a href="http://www.accessmylibrary.com/coms2/summary_0286-12831847_ITM" title="Facts and information about INDIAN OIL CORP TO BUY INTO OFFSHORE TAMIL NADU FIELDS.">INDIAN OIL CORP TO BUY INTO OFFSHORE TAMIL NADU FIELDS.</a>
INDIAN OIL CORP TO BUY INTO OFFSHORE TAMIL NADU FIELDS.
AsiaPulse News
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August 02, 2004 |
COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
NEW DELHI, Aug 2 Asia Pulse - The Indian Oil Corporation, the country's largest refiner, will buy half of Hindustan Oil Exploration Co Ltd's stake in two oil and gas fields in offshore Tamil Nadu for $US104.15 million.
The IOC Board had cleared plans to buy 50% equity in development block PY-1 and 40% in exploration block CY-OSN-97/1 from HOEC, sources said.
In line with its vision to become a vertically-integrated oil major, IOC would acquire a stake in PY-1 at an investment of $US104.15 million. With recoverable reserves of 166 billion cubic feet, the internal rate of return works out to be ...
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Source: HighBeam Research, INDIAN OIL CORP TO BUY INTO OFFSHORE TAMIL NADU FIELDS.