Arrow becomes Dart

Vol 14, PW 5 (26 Aug 10) News in Brief
     

Change is in the air at Brisbane-based Arrow Energy, following its decision to hive off its international CBM assets into a separate company.

In India, as in Vietnam, Indonesia, China, and even parts of Australia, companies that earlier traded as Arrow Energy, were this week re-named Dart Energy, following the completion on August 23 of Arrow’s acquisition by Shell and PetroChina, a listed subsidiary of state-owned China National Petroleum Corporation. “All of Arrow’s overseas assets, including its Indian assets, are excluded from this acquisition,” we hear.

“The Chinese are not coming to India. Only Arrow’s Queensland assets come under this acquisition.

Shell wanted to keep the Arrow brand name for itself.” In India, newly-christened Dart Energy operates three CBM blocks won under the third licensing round: two in Chhattisgarh and one in Jharkhand; in July, it signed PSCs for two more blocks won in the fourth round, one in Madhya Pradesh and one in Assam.