Gujarat Natural Resources Approves Addition of Terms in Oil Field Agreement

Gujarat Natural Resources Limited has approved the addition of terms to an agreement involving the transfer of participating interest in oil fields from its unit, GNRL Oil & Gas Limited. The agreement includes a carried interest arrangement where GNRL will assume 50% of the participating interest in fields such as Allora, Dholasan, North Kathana, and Unawa. This internal restructuring aims to consolidate operations and streamline capital expenditure responsibilities. The company will cover development costs on behalf of its subsidiary, enhancing operational efficiency and financial management. The agreement is subject to government approval and reflects GNRL's efforts to optimize its oil and gas operations.

Source: Business Standard, Gujarat Natural Resources Limited