The Malaysian national oil corporation, Petronas, has subscribed for 176.5 million shares or 10% of the post-IPO share capital of Cairn India Ltd.
Offshore staff
KUALA LUMPUR, Malaysia -- The Malaysian national oil corporation, Petronas, has subscribed for 176.5 million shares or 10% of the post-IPO share capital of Cairn India Ltd.
Cairn India is a newly incorporated company owned 100% by Cairn Energy PLC, an independent E&P company listed on the London stock exchange.
Cairn Energy holds several E&P assets in India and is listing Cairn India on the Bombay stock exchange and the national stock exchange of India.
Upon completion of the IPO, Cairn India would own and operate the assets, which include oil and gas development and production and exploration projects.
