Reuters: Canada's Niko Resources Evaluating Plans for India Assets

Canada's Niko Resources Ltd said it was evaluating plans for its oil and gas assets in India, citing uncertainty related to the outlook for natural gas prices in the country.

Niko owns 10 percent in the D6 Block, off the eastern coast of India. BP Plc has a 30-percent stake in the block, while the rest is owned by India's Reliance Industries Ltd.

The company also holds a stake in the Hazira field in western India.

Gas output from the block has fallen sharply over the past few years. Reliance says the decline is due to the geological complexity of the block, while the Indian government believes contractors have failed to drill the promised number of wells. MORE