Reliance Industries (RIL) and British energy giant BP Plc is planning to acquire their cash-strapped partner Niko Resources’ 10% stake in gas discovery block NEC- 25 in the Bay of Bengal.
RIL is the operator of the block with 60% interest, while BP of the UK has 30% stake. Niko's 10 per cent interest will be split between RIL and BP in proportion to their equity stake.
Gas discoveries in North-East Coast block NEC-0SN-97/1 (NEC-25) hold recoverable reserves of 1.032 trillion cubic feet.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1363.60 |
| Indian Oil Corp. | 147.70 |
| BPCL | 318.40 |
| HPCL | 382.75 |
| MRPL | 185.20 |
| View more.. | |
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