Shell, BP Eye Indian Block as Petrobras Pulls Out

摘要

European giants Royal Dutch Shell and BP are both said to be keen to plug the gap that will be left by Petrobras when the Brazilian state-controlled firm pulls out of a natural gas block off eastern India. Petrobras has decided to quit Indian state Oil and Natural Gas Corp.'s (ONGC) KGDWN- 98/2 Block in the Krishna-Godavari Basin to focus all its attention back home. It has told ONGC it will no longer contribute money for drilling in the block, which sits next to Reliance Industries' prolific KG-D6 fields, and will sell its 15% interest to ONGC, which already has 65%.