Chennai, Feb 19 (UNI) BG India today announced the signing of two agreements with Oil and Natural Gas Corporation Limited (ONGC) to acquire a participating interest in two deepwater blocks off the Indian East Coast.
BG as per the agreement would acquire a 30 per cent interest in KG-DWN-98/4 block and 25 per cent in MN-DWN-2002/02 block, a company release here said.
On completion of the agreement, subject to Government approval, the Consortium on the block would comprise BG India, ONGC, and Oil India.
The second block, MN-DWN-2002/02 is located at Mahanadi (MN) basin in eastern offshore. In the MN block, BG India would have a 25 per cent stake and ONGC would retain 75 per cent interest and would continue to remain as an Operator, the release added.
UNI SNR KVV 1920