April 30, 2017 07:11 pm | Updated 07:11 pm IST - New Delhi
Reliance Industries and British energy giant BP Plc will acquire their cash-strapped partner Niko Resources’ 10 % stake in gas discovery block NEC— 25 in the Bay of Bengal. In mid-2015, Niko had chosen to withdraw from the NEC-25 block and relinquish its interest to the remaining stakeholders. RIL is the operator of the block with 60% interest while BP has 30% stake.
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