OVL has completed the acquisition of 0.615% participating interest (PI) in offshore Azeri Chirag Gunashli (ACG) field in Azerbaijan from Equinor. This also includes the acquisition of 0.737% shares of Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary ONGC BTC," a company statement said.
The firm had signed a sale purchase agreement (SPA) for the stake buy in July and the deal was completed on November 29.
"The total investment for this acquisition is around $60 million," it said.
OVL currently has a 2.31% stake in the ACG field and 2.36% in the BTC pipeline. The buyout of Equinor will help raise its stake.
Denne historien er fra December 01, 2024-utgaven av Financial Express Kochi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 01, 2024-utgaven av Financial Express Kochi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
HMPV: Centre asks states to step up surveillance of respiratory illnesses
Two suspected cases of the virus were reported from Nagpur, taking the total number to seven
Nvidia Unveils New Tech for Gamers
● Also announces first desktop PC
Samsung CEO touts AI fridges & washers
SAMSUNG ELECTRONICS IS ramping up investment in AI for consumer electronics, betting on its ubiquitous presence in gadgets from smartphones to TVs to help it stake out a spot in the AI arena.
Only 1 in 5 Sees Household Income Rising in '25: Study
ONLY 24% OR 1 out of every 5 Indians expects their household income to rise in 2025, a survey released on Tuesday showed.
A boost to Act East policy
STRATEGIC ALLIANCES WITH GLOBAL BHARATIYAS
Growth engine runs out of steam
THAT REPRESENTS A loss of 6.4% growth over the period, against an average annual growth of 6%.
Orbit, Sanabil Launch Startups' Accelerator
ORBIT STARTUPS (ORBIT) and Sanabil Investments have launched an accelerator programme to cultivate early-stage startups from the Saudi Arabia and the Middle East and North Africa (MENA) region as well as global startups seeking to expand into the region.
Merges chaos of mela with efficiency of online market
Why the campaign rocks:
The cost of consent
The proposed DPDP Rules challenge marketers to rethink strategy
Revolutionising legal services
THE SECTOR IN INDIA SHOULD EMBRACE TECH TRENDS AND COMPETITION IN AN ERA OF DISRUPTION
