Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

Cairn India, PetroSA Agree to Explore South Africa Oil Block

Cairn India Ltd., operator of the biggest Indian onshore oilfield, and South African state-run oil company PetroSA agreed to jointly explore for crude and gas in Block 1 of the Orange Basin on the maritime border with Namibia.

The agreement on the 19,922 square-kilometer (4.9 million acre) block on South Africa’s west coast is subject to approval from local regulators, the companies said today in a statement.

Cairn will hold 60 percent of the venture and PetroSA the balance. P. Elango, director of strategy at Cairn India, said in the statement the deal was “an important first step” for the company’s expansion outside of the Indian subcontinent.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.