| The Oilex-Bharat Petroleum Corp Ltd-Videocon Industries-Gujarat State Petroleum Corp consortium was awarded Block 103 located in Timor Sea, Oilex NL said in a press release here. |
| The consortium won permits to explore for oil and gas in Timor Sea waters jointly administered by East Timor and Australia. |
| Oilex will be the operator of Block 103 with a 25 per cent stake. GSPC, BPCL and Videocon Industries will also have 25 per cent each. Contracts for the permit would be signed by September 30. |
| A separate consortium of Oilex, GSPC, Videocon, Hindustan Petroleum Corp Ltd and BPCL was awarded block W05-11 located in the offshore Carnarvon Basin, Australia. |
| Oilex is the operator and each member has a 20 per cent stake. "W05-11 was offered in the bid round that closed on April 26, 2006. It is located to the north of the Goodwyn/North Rankin gas fields trend and to the northeast of the Jansz-lo gas discoveries in the Exmouth Sub-basin," the release said. |
| Block 103 was rated by Oilex to be most prospective of the blocks on offer in the bid round that closed on May 26, 2006. |
| It is located immediately to the east of the Laminaria, Corallina, Kakatua, Kuda Tasi and Elang discoveries/oil and gas fields and to the north of the Bayu-Undan gas condensate field. |
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