On 19 January 2018 Reliance Industries Ltd (RIL), in its Q3 FY17-18 report, announced that the Government of India (GoI) has approved the transfer of participating interest of Niko Resources Ltd (10%) in gas Block NEC-OSN-97/2 (NEC-25), located in the Bengal Basin to BP Exploration and Production Inc and RIL.Â Â Â Â Â  Â  Reliance Industries is operator of the licence NEC-OSN-97/2, with 60% interest, with BP holding 30% and Niko Resources the remaining 10%. Once Nikoâs withdrawal and transfer of the interest is complete, Reliance Industries will hold around 66% and BP 34%.Â Â  Â  In early May 2017 it was reported that RIL and BP had agreed to acquire Niko Resourcesâ 10% interest in NEC-OSN-97/2 (NEC-25) block. Subsequently, it was reported that the companies have submitted an application for the transfer of interests to government of India, and were awaiting approval.Â Â  Â  It was previously reported that Niko intended to withdraw from the block in July 2015.Â Â  Â 
Niko Res farmed out his 10% stake in NEC-OSN-97/2  (Dirhubai 9,10,32,40, disc.) to Reliance Op (Ã  66%, BP 34%).