December 1, 2009 / 1:24 PM / 10 years ago

India, Angola cos to get stake in Iran project

NEW DELHI, Dec 1 (Reuters) - India’s Oil and Natural Gas Corp (ONGC.BO) and the Hinduja group will jointly get a 40-percent stake in Iran’s South Pars-12 project, Managing Director of Iran’s national oil company Seifollah Jashnsaz said.

Angola’s national oil company, Sonangol, will hold 20 percent in the project that will be developed at a cost of $7.5 billion, Jashnsaz told reporters on Tuesday.

Gopichand P. Hinduja, co-chairman of the Hinduja group said ONGC and his group would hold 20 percent each. (Reporting by Nidhi Verma; Editing by Malini Menon)

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