Hindustan Petroleum Corporation (HPCL) is in talks with Jindal Petroleum to buy the Jindals’ 25% in oil and gas block in Rajasthan. Jindal Petroleum, in a consortium led by Hindustan Oil Exploration Company and Oil India, had bagged the block in a NELP (New Exploration Licensing Policy-VII) bidding round in 2008. The block, RJ-ONN-2005/1, has an estimated recoverable reserves of 500 billion cubic feet of gas.
Under the New Exploration Licensing Policy (NELP-VII), the Rajasthan block was awarded to the consortium consisting HOEC, Bharat Petroleum Resources, Jindal Steel & Power , and mid-size firm IMC, with each owning 25% stake. The block is located adjoining the RJ-ONN-2005/2, where HOEC and Oil India are already partners.
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| Company Name | CMP |
|---|---|
| Reliance Industries | 1314.70 |
| Indian Oil Corpn. | 137.55 |
| Bharat PetroleumCorp | 308.50 |
| HPCL | 366.45 |
| MRPL | 179.85 |
| View more.. | |
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