Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, Indian Oil Corporation has informed that the company along with Bharat Petro Resources Limited (BPRL), a subsidiary of Bharat Petroleum Corporation Limited (BPCL) acting jointly as a consortium through Urja Bharat (the Indian Consortium) have been awarded 100% stake in the Abu Dhabi Onshore Block 1 Concession (the Concession). The Concession has been awarded by the Supreme Petroleum Council (SPC), on behalf of the Abu Dhabi government, where participation of the Indian Consortium is through a Special Purpose Vehicle (SPV), Urja Bharat, which comprises of IndianOil: 50%, BPRL: 50%. The Indian Consortium will make an investment of $170 million for the exploration activities. This award is part of Abu Dhabis first-ever competitive block bid round.
The above information is a part of company’s filings submitted to BSE.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1304.25 |
| Indian Oil Corpn. | 141.60 |
| Bharat PetroleumCorp | 308.20 |
| HPCL | 399.35 |
| MRPL | 150.20 |
| View more.. | |
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