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Mergers & Acquisitions | 17 August 2012

South African Gas Block Acquired By Cairn India

by Paritosh Gajjar
 
@Paritosh
@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).

ONGC To Rope In Japan's Inpex in KG Block

ONGC is planning to sell 26% stake in its KG-DWN-2004/6 block in the KG - basin to Japanese Inpex Corporation, according to BS. Inpex Corporation being a global player will provide technological support for exploration and drilling of blocks.

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Ace Investor Rakesh Jhunjhunwala Backs Remedinet Technologies

Ace investor Rakesh Jhunjhunwala has invested an undisclosed amount in Remedinet Technologies, software firm which provides solutions to manage pre-authorised payments. The round also saw the participation of existing investors - Bessemer Venture Partners and Nirvana Venture Advisors Private Limited.

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