Cyprus-based Suntera Resources said Monday that it will relinquish its interests in all its Indian oil and gas blocks to focus on Nigeria. Suntera Managing Director Sudhir Kamath told the Hindustan Times that the company plans to focus on two blocks where oil and gas have been discovered. Suntera is a joint venture between India's Sun Group and Russian gas company Itera. The outfit holds 10%-40% interests in seven oil and gas blocks in India. These include six exploration blocks with Oil India in Assam, Mizoram, Rajasthan and the Mahanadi Basin, and one with Oil and Natural Gas Corp.
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