Adani Enterprises Ltd said Adani Welspun Exploration Ltd (AWEL), its joint venture with Welspun Natural Resources Pvt Ltd, started exploratory drilling in the Palej block in Cambay basin. This block was awarded to the company under the New Exploration Licensing Policy (NELP) VI.
AWEL has 90% participating interest in Palej and Assam blocks through group companies, 100% participating interest in Mumbai offshore block and two blocks in Thailand. AWEL has also been awarded two offshore exploration blocks in Kutch basin as a non-operator with 20% and 30% participating interests.
Production sharing contracts for these two blocks are expected to be signed soon, it said in a regulatory filing.
On Wednesday, Adani Enterprises shares ended flat at Rs543 on the Bombay Stock Exchange, while the benchmark Sensex closed at 0.3% up at 17,462 points.
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