HPCL Pitching for African Oil Block

摘要

Hindustan Petroleum Corporation (HPCL) is likely to acquire an oil and gas Africa through its subsidiary, Prize Petroleum. The Indian companyis keen on acquiring producing blocks, according to sources. The company, they said, was in talks with a local player for a discovered asset so that it could have a ready cash flow in one or two years.The company has expansion plans in the upstream sector. "We have decided to spread our investments into conventional and non-conventional segments. We are also looking atpartnering with successful operators in oil and gas; coal-bed methane and shale gas overseas," said a senior HPCL official to newspersons mid-October.