GAIL India in talks to buy stake in Tanzania assets

State-run gas utility GAIL India Ltd (GAIL.NS) is in talks to buy a stake in the Tanzanian assets of British oil explorer Ophir Energy Plc (OPHR.L), the Indian company's marketing head said.

 

Ophir had offered to sell a 40 percent stake in the Tanzania gas field, half of which has already been sold, said Prabhat Singh.

"There are various options. We are negotiating with them," Singh told reporters, without elaborating how much stake GAIL plans to buy.