New Delhi, Mar 11: Seeing opportunity in Cairn Energy PLC rejecting Oil and Natural Gas Corporation's about 200 million dollar bid for its India assets, state-owned gas transportation firm Gail has evinced interest in acquiring the British firm's oil and gas fields on the east and west coast. "We had written to Cairn last year expressing our intent in acquiring their oil properties, but talks could not progress as Cairn had an understanding with ONGC. Now that they have rejected ONGC's bid, we will reopen the dialogue," senior Gail officials told here.
Gail was interested in acquiring Cairn's one trillion cubic feet Krishna Godavari gas field and the Cambay basin block CB-OS/2 where five oil and gas discoveries have been made, they said but did not comment if the company would better ONGC's bid amount.
Industry sources said Cairn Energy has also begun talking to British oil and gas major BG Group for sale of its stake in deepwater block kg-dwn-98/2 and shallow water block kg-OS/6 (both in kg basin), Cambay basin block and the 50,000 barrels per day Ravva oil field.
It has also sent feelers to reliance industries as also state refiner Indian Oil Corporation, which too was initially interested in Cairn's assets.
Meanwhile, Gail has also evinced interest in acquiring Gujarat State Petroleum Corporation (GSPC)-operated kg basin shallow water block KG-OSN-2001/3.
"We are expanding our exploration portfolio in a big way and want to add highly prospective blocks," company officials said. Bureau Report