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Inpex takes 26 pct stake in offshore block from ONGC

Source : REUTERS
Last Updated: Mon, Nov 05, 2012 08:20 hrs
Engineers of ONGC work inside the Kalol oil field in Gujarat

TOKYO (Reuters) - Japan's top oil and gas explorer, Inpex Corp <1605.T>, said on Monday it had agreed to acquire a 26 percent stake in an offshore Indian exploration block, KG-DWN-2004/6, from state-run Oil and Natural Gas Corp.

After completion of the deal, which is subject to Indian government approval, exploration company ONGC will continue to serve as the block's operator, with a 34 percent stake, Inpex said. (Reporting by Osamu Tsukimori; Editing by Clarence Fernandez)


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