Templeton-Backed Shiv-Vani May Buy Company Overseas
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Shiv-Vani Oil & Gas Exploration Services Ltd., an Indian oil driller backed by Templeton Asset Management Ltd., plans to spend $50 million to acquire a U.S. or European company to get access to technology.
“We have the basic facilities when it comes to drilling,” Vice President P.K. Gupta said in a phone interview from New Delhi today. “We are trying to develop capabilities in specialized services, which companies like Schlumberger Ltd. have.”