Reliance Industries Ltd (RIL) and Oil and Natural Gas Corporation Ltd (ONGC) are in talks for equity share of rigs. Furthermore, in a tough economic environment they are also learning how to equity share their resources. Sources suggest the total deal is valued at around Rs 4000 crore for which a tripartite agreement would be signed between ONGC, RIL and the rig builder Deepwater Pacific.
Although this is the only second deal between these two giants, sources say this is only the beginning and there could be as many as three deals between these two companies in coming days for big deepwater rigs.
Although this is the only second deal between these two giants, sources say this is only the beginning and there could be as many as three deals between these two companies in coming days for big deepwater rigs.
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