Gujarat Natural Resources Limited (GNRL) has announced the signing of a Carried Interest Agreement and Deed of Assignment and Assumption for the transfer of a portion of Participating Interest (PI) in oil fields. The transfer is from its step-down subsidiary, GNRL Oil & Gas Limited, to the parent company, GNRL. The fields involved include Allora, Dholasan, North Kathana, and Unawa.
Under this agreement, GNRL will assume 50% of the PI, while the remaining stake stays with GNRL Oil & Gas Limited. The agreement covers capital expenditure, development costs, and revenue sharing. However, the transfer is subject to approval from the Government of India.
This internal restructuring is part of GNRL’s ongoing efforts to consolidate and streamline operations across its subsidiaries. The company will keep shareholders updated on future developments.
