Videocon Industries on Tuesday said a well drilled to confirm an oil discovery in its Brazilian offshore block has struck 200 feet of high-quality hydrocarbon zone.
OVL, the overseas arm of state-run explorer Oil & Natural Gas Corporation, and Oil India Limited agreed in June last year to jointly buy Videocon's 10 per cent interest in the Rovuma Area 1 for $2.475 billion.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
Valuers have found almost no assets to pay for their claims against the Videocon group that entered the insolvency process in 2018. But the dissenters suggest that the money is elsewhere, possibly in the group's oil and gas assets, which are not part of the group's bankruptcy case.
GAIL (India) Ltd and its partners on Wednesday signed the Exploration and Production Sharing Agreement with government of Oman for Block 56 in Muscat.
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