State-run oil producer Oil India is seeking to acquire a stake in Maurel & Prom assets in Gabon, Bloomberg reports. The Paris-based firm’s fields are valued at over $1.5 billion.
Oil India may soon appoint banks for financial due diligence. The purchase will be funded by issuing debt outside India. Citigroup and BNP Paribas, in April 2010, were appointed by Maurel to search for partners for exploration permits that it holds.
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