Indian consortium buys 10% stake in UAE oilfield

One of the ONGC led Indian consortium has agreed to pay $600 million (over ₹3,850 crore) for a 10% stake in an offshore oilfield in UAE's Abu Dhabi. This is the first time Indian oil companies getting a stake in Abu Dhabi's hydrocarbon resources. According to reports, the deal was finalized and signed on Saturday during the visit of PM Narendra Modi to UAE.
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