The deal entitles the two to a 30% share in daily production of 1,850 barrels of oil equivalent
Government-owned Oil India Limited (OIL) and Indian Oil Corporation (IOC) have together acquired 30 per cent stake in a producing US shale asset at an investment of $82.5 million (Rs 427 crore). This is the first shale acquisition by the two companies in the US. OIL will buy 20 per cent and IOC 10 per cent stake in the asset owned by Carrizo, a Nasdaq-listed company.
Technology Partners: MimirTech
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/oil-india-indian-oil-buy-us-shale-stake-rs-427-cr
[2] http://admin.indiaenvironmentportal.org.in/category/newspaper/business-standard-new-delhi
[3] http://admin.indiaenvironmentportal.org.in/category/thesaurus/oil-india
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/indian-oil-corporation-ioc
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/united-states-america-us
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/petrochemical-industry
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/energy
