BPCL aqcuires 25 pc in 2 North Sea blocks

Saturday, March 17, 2007, 20:57 [IST]

New Delhi, Mar 14 (UNI) Bharat Petroleum Corporation Ltd (BPCL) today announced it will acquire a 25 per cent interest in two blocks in the North Sea, UK.

The company has signed a farm-in agreement for a stake in blocks 48/1b and 48/2c.

Post the agreement, all the other consortium partners -- Encore (NNS) Ltd and Encore Petroleum Ltd, Operator NWE Southern Cross (UK) Pty Ltd and Tata Petrodyne Ltd -- will own 25 per cent each in the blocks.

The terms of the license require a well to be drilled before December 2008, the company said in a statement.

UNI

Topics: ENERGY-BPCL-BLOCKS

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