Australian minnow Pan Pacific Petroleum has farmed into a block in the joint petroleum development area (JPDA) administered by Australia and East Timor. The firm said it will take a 15% interest in JPDA Block 06- 103 by acquiring 5% each from existing joint-venture partners Bharat Petroleum, Gujarat State Petroleum and Videocon. The Indian firms will now have 20% each, operator Oilex 10% and Japan Energy 15%.
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