Valdel Oil & Gas Private LimitedTo enter the Oil and Gas exploration sector, leveraging primarily on its inherent strength in the engineering, procurement and construction sectors, along with its greater understanding of the Indian Oil and Gas Industry. A new company was incorporated by name Valdel Oil & Gas Pvt Ltd to take up this initiative. This is a Joint Venture between Valdel Group and Suiwah Holdings Bhd a listed company from Malaysia who are in the business of Real Estate, Retail and Electronics.
Valdel Oil and Gas has acquired 50% consortium stake in three Marginal Fields with Prize Petroleum Co Ltd (A Subsidiary of HPCL). The total Reserves in place in these fields are estimated to be about 33 Million barrels.