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Mergers & Acquisitions | 17 August 2012

South African Gas Block Acquired By Cairn India

by Paritosh Gajjar
South African Gas Block Acquired By Cairn India
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Cairn India Limited ventured out of India and bought its first asset in a deep-sea gas discovery block on the west coast of South Africa.

The company bought 60% stake in the 19922 sq.km Block 1 in Orange Basin and has signed a farm-in agreement with South African national oil firm Petroleum Oil and Gas Corporation of South Africa Ltd (PetroSA).

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