GVK Power arm inks pact with petroleum ministry

GVK Oil and Gas Limited, a wholly-owned subsidiary of Hyderabad-based GVK Power and Infrastructure Limited, has signed a production sharing contract with the Union ministry of petroleum and natural gas for seven exploration blocks, the company informed the BSE on Wednesday. 

The BHP-Billiton-GVK Power consortium and the Reliance Industries-BP Plc combine were among the companies that signed production sharing contracts on December 22 for exploration in 44 oil and gas blocks with a committed investment of $1.5 billion.