Japan's Inpex buys 26% stake in Indian offshore block

Nov 05 2012, 17:24 IST
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SummaryJapan's top oil and gas explorer, Inpex Corp, said it had agreed to acquire a 26% stake in an offshore Indian exploration block, KG-DWN-2004/6.

Japan's top oil and gas explorer, Inpex Corp, said on Monday it had agreed to acquire a 26 percent stake in an offshore Indian exploration block, KG-DWN-2004/6, from India's 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.

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