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Oil India Eyes Maurel & Prom Field Stake

State-run oil producer Oil India is seeking to acquire a stake in Maurel & Prom assets in Gabon.

    State-run oil producerOil Indiais seeking to acquire a stake inMaurel & Promassets in Gabon,Bloombergreports. The Paris-based firm’s fields are valued at over $1.5 billion.

    Oil India may soon appoint banks for financial due diligence. The purchase will be funded by issuing debt outside India.CitigroupandBNPParibas, in April 2010, were appointed by Maurel to search for partners for exploration permits that it holds.

    Click here for the story fromBloomberg.

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