RIL, BP to acquire Niko's 10 stake in gas block

摘要

Reliance Industries Ltd. (RIL) and British energy giant BP will acquire their cash-strapped partner Niko Resources' 10 per cent stake in gas discovery block NEC- 25 in the Bay of Bengal. In mid-2015, Niko had chosen to withdraw from the NEC-25 block and relinquish its interest to the remaining stakeholders. RIL is the operator of the block with 60 per cent interest, while BP of the UK has the remaining 30 per cent stake.