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05-Apr2018

HOEC enters into SPA to acquire Geopetrol International

Hindustan Oil Exploration Company (HOEC) has entered into a Share Purchase Agreement (SPA) to acquire the entire share capital of Geopetrol international Inc., which is a party to number of oil and gas assets in India, including the Kharsang Oil field in the state of Arunachal Pradesh which is under production with 30% participating interest both directly and indirectly.

HOEC has two operating assets one at Assam, Dirok oil and gas producing field and the other at Kherem at Arunachal Pradesh. This acquisition would enhance the operating synergy and optimize the costs.

HOEC is an oil and gas company. The company's activities relate to exploration and production of hydrocarbons, which are natural resources. Its segments include Hydro carbon and Oil additives. Its products include crude oil and natural gas.



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