Niko can up stake in India block: RIL

Canadian oil and gas company Niko Resources Ltd has been given an option by Reliance Industries Ltd (RIL) to increase its stake in the three oil and gas blocks by up to 30% from its current working interest.

Canadian oil and gas company Niko Resources Ltd has been given an option by Reliance Industries Ltd (RIL) to increase its stake in the three oil and gas blocks by up to 30% from its current working interest.

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The offer has been given by RIL following its newly created alliance with BP.

Niko owns a 10% working interest in the D6 and D4 blocks in the KG Basin and Bengal Basin.

It owns a 15% working interest in the NEC 25 block in the Orissa basin.

"Niko Resources was informed about our partnership with BP," said an RIL's spokesperson.