LOC20:30
17:30 GMT
MUSCAT, April 6 (KUNA) -- Shell Overseas Holdings Limited on Friday announced the completion of the sale of Shell Exploration and Production Oman Limited (SEPOL) to Indian Oil Corporation Ltd (IOCL) Singapore PTE, a subsidiary of IOCL, for USD 329 million.
In a press statement, president of Shell Oman Chris Breeze said that it is a pleasure to help the entry of Indian Oil, which is an integrated energy company with activities in oil, gas, petrochemicals and one of India's largest companies, into the exploration sector in the Sultanate of Oman.
He affirmed that the company (Shell) remains fully committed to Oman's energy future and is actively seeking to create further investment opportunities in the country.
Indian Oil's stake in Mukhaizna becomes 17 percent, while Occidental Mukhaizna owns 45 percent, Liwa Energy Limited has 15 percent, Oman Oil Company seizes 20 percent, Total E & P Oman possesses two percent and Partex (Oman) Corporation holds one percent. (end)
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