BG Group completes acquisition of Enron Oil & Gas India Limited

abarrelfullabarrelfull wrote on 22 Feb 2015 15:42

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"4","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

14 FEBRUARY 2002

BG Group plc has completed today the purchase of the entire share capital of Enron Oil and Gas India Limited (EOGIL) for US$350 million from Enron Corp.

On January 23, 2002, BG Group announced a revised agreement to acquire EOGIL whose assets include 30 per cent interests in the Tapti gas field and the Panna/Mukta oil and gas field, and a 62.64 per cent interest in the CB-OS/1 exploration licence. The acquired company will be renamed BG Exploration & Production India Limited (BG E&P India).

BG E&P India will continue to operate these assets. Discussions with partners regarding this arrangement are ongoing.

The partners in the Tapti and Panna/Mukta offshore operations are Oil and Natural Gas Corporation Limited (ONGC), which has a 40 per cent share, and Reliance Industries Ltd., which owns the remaining 30 per cent. The other partners in the CB-OS/1 licence are Hindustan Oil Exploration Company (17.36 per cent), Tata Petrodyne (10 per cent) and ONGC (10 per cent).

Related News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/\/feed\/pages\/pagename\/blog%3A_start\/tag\/upstream\/category\/blog\/limit\/10\/t\/My+Blog","limit":"3","module_body":"* %%linked_title%%"}}

Looking for information on the E&P sector?

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License