India Intelligence Report
 

   Gail Consortium Signs Oman Deal

 

 

  • GAIL-led consortium wins contract to explore and produce hydrocarbons

  • Indian companies own more than 50% of consortium

  • Block is 5809 sq km

A Gas Authority of India Limited (GAIL) led consortium signed the Exploration and Production Sharing Agreement (EPSA) with The Government of the Sultanate of Oman for Block 56 last week for exploration and production of hydrocarbons.

Other Consortium members include Oilex Australia, Videocon, Hindustan Petroleum Corporation Limited, and Bharat Petroleum Corporation Limited (BPCL). GAIL, Oilex and Videocon each have 25% participating interest share of the consortium.

The Block 56 is an onshore block located in the South Oman Salt Basin area in the eastern flank and covers an area of 5,809 square kilometers.

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