GAIL India, State-run utility, had agreed to buy a 20% stake in one of Carrizo Oil & Gas Inc's shale gas assets in the United States. GAILwould invest a total of USD 300 million over the next five years.GAIL and Carrizo will form a joint venture in the US firm's lucrative Eagle Ford shale assets.GAIL's investment includes upfront cash payment of USD 63.7 million and a carry amount of USD 31.3 million linked to Carrizo's future drilling and development costs.
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