BUSINESS

Essar, GSPC bag oil and gas block in Indonesia

Source:PTI
October 17, 2008 16:29 IST

Ruias-owned Essar and Gujarat State Petroleum Corp have won an oil and gas exploration block in Indonesia.

On Friday, Indonesia awarded 22 new oil and gas blocks out of the 25 it had offered for bidding recently.

The consortium of Essar E&P and GSPC was awarded the Southeast Tungkal block, industry sources said.

Among the other winners were ConocoPhillips, Chevron Corp, Australia's Pearl Energy and Worldwide Exploration, China's Sinochem Petroleum, Malaysia's Ranhill Energy and Husky Energy.

Indonesia, a member of the Organisation of Petroleum Exporting Countries, has offered a further 31 new oil and gas blocks for bidding.
Source: PTI
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