BPCL signs farm-in agreement to acquire blockin North Sea

Bharat Petroleum Corporation Ltd (BPCL) has announced that the Company has signed a farm-in agreement on March 13, 2007, for acquiring participating interest in the North Sea (in UK) blocks 48/1b and 48/2c. After farm-in, the participating interests of the Consortium partners shall be : Encore (NNS) Ltd and Encore Petroleum Ltd-Operator (25%), NWE Southern Cross (UK) Pty Ltd (25%), Tata Petrodyne Ltd (25%) and the Company (25%).

The terms of the license require a well to be drilled before December 2008.

Source : Equity Bulls

Keywords