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Indian oil firms eye Iraq field
- Iraq: Wednesday, December 27 - 2006 at 10:02
India's state-run Oil and Natural Gas Corporation and privately-owned Reliance Industries are holding talks with Iraqi authorities on a joint development of the Tuba oilfield in the south of the country, according to The Financial Times. ONGC and Reliance are expected to hold 30% each in the venture and Algeria's Sonatrach would hold a 40% stake. India is looking to secure energy supplies to maintain its economic growth.
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James McInerney, News EditorWednesday, December 27 - 2006 at 10:02 UAE local time (GMT+4)
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This article was updated on Thu Apr 05 2007.
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