Royal Dutch Shell is believed to be considering a bid to acquire up to 30% stake in Reliance Industries’ (RIL’s) discovered gas block in the Krishna-Godavari basin. Shell’s bid could be around $6.7 billion. This will value RIL’s D-6 block, with reserves of 14 trillion cubic feet (tcf) of gas, at over $22 billion, however RIL strongly denied the rumours.
Total of France, ENI of Italy and Brazil’s Petrobras have also shown interest in the D-6 block, which is set to commence commercial operations in a couple of months. BG and Exxon officials declined to comment on any interest in the KG basin block.
Read more in The Economic Times article.
No comments:
Post a Comment