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BSE SENSEX
74,339.44
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Corporate Announcement
Security Code
530965
Company
INDIAN OIL CORPORATION LTD.
Exchange Received Time
12/02/2018 15:45:09
Exchange Disseminated Time
12/02/2018 15:45:11
Time Taken
00:00:02
Announcement under Regulation 30 (LODR)-Updates |
02/12/18 15:45
IOCL along with ONGC Videsh Limited (OVL) and Bharat PetroResources Limited (BPRL) acting jointly as Indian Consortium have been awarded 10% stake in Lower Zakum Concession, Offshore Abu Dhabi. The Concession has been awarded by the Supreme Petroleum Council (SPC), on behalf of the Abu Dhabi government, where participation of the Indian Consortium is through a Special Purpose Vehicle (SPV) which comprises of IndianOil - 30%, OVL - 40% and BPRL - 30%. Thus IndianOil effectively has been awarded a 3% stake into the Concession.
IndianOil cautions that the forward-looking statements are based on reasonable assumptions and no assurance can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed.
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