Gail positioning itself to become major force

Indian analysts believe that Gail (India) Ltd is looking to become a major player in the oil and gas sector in the coming financial year, on both the domestic and international stages. It is rumoured that will double its investment in exploration and production for 2004-05.
Gail positioning itself to become major force Gail positioning itself to become major force Gail positioning itself to become major force Gail positioning itself to become major force Gail positioning itself to become major force

Apparently, amongst Gail's plans are to take more oil blocks in the Tripura and Cauvery basins and to be involved in the coal-bed-methane sector. It will apparently also look into purchasing stakes in proven international fields.

This move is being seen as a way for the Indian gas pipeline giant to consolidate its upstream activities. Should this analysis prove to be true, Gail will invest around Rs 250 crore (US$55m), around Rs 150 crore ($33m) more than it did in financial year 2003-04.

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