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Thursday, October 04, 2001
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Enron out of oil project

By Our Special Correspondent

NEW DELHI, OCT. 3. Enron Corporation, which is planning to pull out of its power and oil projects in India following controversies involving its joint ventures, today concluded a tentative agreement with the British Gas India for sale of its stake in Enron Oil and Gas India Limited (EOGIL).

The deal is for $388 million, but subject to approval of ONGC and Reliance - partners in the Tapti and Panna/Mukta oil and gas field projects - that EOGIL continues to be the operator of the project.

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