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Burren plans 46 percent stake in Hindustan Oil
By agencies
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Tuesday, 15 February 2005, 20:30 IST
MUMBAI:Burren Energy Plc, a London based oil explorer is keen on buying a 46 percent stake in Hindustan Oil Explorations Ltd. for $ 51 million.
Burren Energy India Ltd. has acquired 26.1 percent of the company with the purchase of Unocal Bharat Ltd. for $26 million.
Burren Energy has now made an open offer for 20 percent more of Hindustan Oil Exploration from stock markets, a offer worth nearly $25 million.
Burren said it had made the offer as it saw significant opportunity for exploration and production of oil and gas to meet India's growing energy needs.