Essar Exploration & Production, Mauritius, has been awarded an offshore block in the prolific Song Hong basin, Vietnam.
The block was offered under the recent licensing round offering seven offshore blocks. The exploration phase is estimated to last five years, and the investment for the programme will be approximately $60 million.
Essar Oil is consolidating the upstream exploration & production (E&P) activities under its proposed subsidiary, Essar Exploration & Production, which will have eight oil and gas blocks and one coal bed methane block, the company said in a release issued to the BSE today.
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