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Indian companies-led consortium bags Oman oil field

Written by: Staff

Mumbai, Mar 31 (UNI) A consortium of Videocon Industries Limited, public sector majors GAIL, BPCL and HPCL, and the Australia-based Oilex has been awarded an oil field in Oman.

Informing the Bombay Stock Exchange (BSE) of this development, Videocon Industries said that the oil field--Block 56--has been awarded to the consortium for the purposes of exploration and further development.

Videocon Industries, GAIL and Oilex will each hold 25 per cent stake, while BPCL and HPCL will hold 12.5 per cent each, stated the company.


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