Hardy will not exercise preemptive right for block D3

摘要

Mumbai-India-focused UK E&P company Hardy Oil and Gas May 6 said it had decided not to exercise an option to increase its participating interest by 3% in Reliance Industries Limited's deepwater D3 block in the Krishna Godavari Basin. Hardy Oil, as a partner with 10% participating interest in the block, had the option to increase its stake by 3% after BP agreed to buy a 30% stake in 23 exploration blocks of Reliance in a $7.2 billion deal announced in February (ON 2/21).