Japan’s INPEX has agreed to acquire a 26% participating interest in the exploration block KG-DWN-2004/6 (the Block) in the deep water of Krishna Godavari Basin in the Bay of Bengal, offshore India.
According to information announced by INPEX on its website, the company will buy the stake in the block from India’s largest national E&P company, Oil and Natural Gas Corporation Limited (ONGC).
This is the first case for INPEX to participate in oil and gas exploration activities in India since its business integration between the former INPEX and Teikoku Oil Co., Ltd. in 2008.
[mappress] Offshore Energy Today Staff, November 5, 2012