GSPC in pact with Egypt for oil and gas exploration
Gujarat State Petroleum Corporation (GSPC) has inked an agreement with government of Egypt for oil and gas exploration in the African nation where the Indian firm has been allotted blocks. “The GSPC-led consortium was allotted three blocks by Egypt and agreement for commencing exploration activities has been inked with one block,” the GSPC official, who signed the agreement in Egypt, said.
The consortium is led by GSPC, which has 60 per cent stake, while Adani Group holds 40 per cent. Similar agreements for remaining two blocks will be inked at a later stage, he said. GSPC already has got two blocks in Egypt apart from three awarded recently. With this addition now GSPC have five blocks in Egypt now.
GSPC, with its various partners, is engaged in exploration activities in petroleum products at 60 places in India and abroad, where it works in more than 20 countries.
Gujarat State Petroleum Corporation (GSPC) has inked an agreement with government of Egypt for oil and gas exploration in the African nation where the Indian firm has been allotted blocks. “The GSPC-led consortium was allotted three blocks by Egypt and agreement for commencing exploration activities has been inked with one block,” the GSPC official, who signed the agreement in Egypt, said.
The consortium is led by GSPC, which has 60 per cent stake, while Adani Group holds 40 per cent. Similar agreements for remaining two blocks will be inked at a later stage, he said. GSPC already has got two blocks in Egypt apart from three awarded recently. With this addition now GSPC have five blocks in Egypt now.
GSPC, with its various partners, is engaged in exploration activities in petroleum products at 60 places in India and abroad, where it works in more than 20 countries.
