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Indian oil firms mulling stake purchase in UAE field

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Staff Writer | September 22, 2017
Indian oil companies are mulling to acquire up to 20 percent stake in an oil field belonging to Abu Dhabi National Oil Company (ADNOC) in UAE, Utpal Bora, CMD of Oil India Limited said.
Oil India Limited
Oil exploration   "They are offering some stake in a field"
"One offer has come from ADNOC of UAE. They are offering some stake in a field. It is a producing oil field. We are now doing some due diligence now whether it is worth investing or not," Bora told PTI.

"They are offering around 20 percent stake. We will be one of the companies (mulling to acquire the stake).

"20 percent (stake) will be among the three or four oil companies (PSUs). We are part of the consortium (BPCL, OVL, OIL and others)," said Bora.


 

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