NRL is the largest customer of OIL's crude produced from its northeastern fields. The acquisition is expected to improve synergy in OIL's portfolio, it said in a statement.
OIL, a navratna public sector undertaking, is a fully integrated exploration and production company in the upstream sector and is the second largest national oil and gas company in India as measured by total proved plus probable oil and natural gas reserves and production.
It is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. The company already has 26 per cent stake in NRL.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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