Official: Australia's Santos Looking to Exit India Oil & Gas Blocks

Reuters

NEW DELHI, Dec 11 (Reuters) - Santos Ltd, Australia's No. 2 energy company, wants to pull out of two Indian oil and gas blocks because of problems related to a maritime border dispute with Bangladesh, Indian government officials said on Wednesday.

"They had met us two months back and said they would like to exit because there was some problem with the Bangladesh water dispute," oil secretary Vivek Rae told reporters.

Santos was awarded two offshore oil and gas blocks, off India's east coast, in 2007.

In October, Anglo-Australian resources company BHP Billiton said it will relinquish interest in nine oil and gas exploration blocks in India, following delays in permits to conduct exploration activities.

The oil ministry is trying to see if BHP's concerns can be addressed in some other fashion, joint secretary Aramane Giridhar told reporters. He added that state-run Oil and Natural Gas Corp is looking to buy stakes in the BHP blocks and talks are at a preliminary stage.

(Reporting by Nidhi Verma; Editing by Prateek Chatterjee)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Account Manager
Expertise: Business Development|Sales
Location: Houston, TX
 
Account Manager
Expertise: Business Development
Location: Houston, TX
 
Patent Counsel/Senior Patent Counsel
Expertise: Legal
Location: Richmond, VA
 
search for more jobs

Brent Crude Oil : $55.14/BBL 0.61%
Light Crude Oil : $49.48/BBL 0.86%
Natural Gas : $3.12/MMBtu 0.95%
Updated in last 24 hours