Hindustan Oil Exploration Company Ltd (HOEC) has announced its plan to increase its participating interest in the offshore Block MB/OSDSF/B80/2016 (B-80) to 100%. This move involves the acquisition of the remaining 40% stake from Adbhoot Estates Private Limited, subject to approval from the Government of India.
The company is in the process of submitting the necessary application for regulatory clearance. This development was disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.