Gujarat State Petroleum Corporation (GSPC) has signed an agreement with the
Egypt Government for oil and gas exploration in Egypt where GSPC has been
allotted blocks.
GSPC led conglomerate was recently allotted three blocks for oil and gas
exploration in Egypt. GSPC holds 60 per cent stake in these blocks, while the
remaining 40 per cent is with the Adani Group.
Agreement for commencing exploration activities has been inked with one
block. Similar agreements for remaining two blocks are likely to be signed at a
later stage. GSPC already has got two blocks in Egypt apart from three awarded
recently.
Also See:
GSPC
invites bids for Deen Dayal field (6-April-10)