Hindustan Oil Exploration Company Ltd (HOEC) has informed BSE that the Company has received a communication from Oil & Natural Gas Corporation Ltd (”ONGC”), who is the licensee of Block CB-OS-1, wherein it has exercised its option to acquire additional thirty percent (30%) Participating Interest from the Contractors in the Gulf ‘A‘ Development Area in Block CB-OS-1 pursuant to the terms of the Production Sharing Contract.
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