Kiri & Co. Logistics Private Lts has offered to acquire Oilex's 40% interest in the Bhandut onshore field in Kutch for USD 14 MM cash. GSPC, the other partner in the Bhandut PSC, has also had it 40% on the table and Kiri appears to have also been selected as the preferred bidder. The sale of Oilex's 60% is conditional on Kiri buying-out GSPC's interest by 31 Mar '20.
Kiri & Company Logistics acquired a 100% interest in the Bhandut PSC from GSPC and Oilex.