British Gas buys Fiat oil interests

Thursday 18 January 1996 00:02 GMT

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British Gas buys Fiat oil interests

British Gas has acquired for around pounds 20m the oil and gas interests of Fiat RIMI, which includes 50 exploration and production licences in Italy. The portfolio covers acreage in the Southern Apennines, an area where large oil accumulations have been found. British Gas said that following the transfer, most of the gas production would still be sold to the Fiat Group, which is already a partner to the UK company in a programme of combined heat and power generating projects in Italy.

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British Gas buys Fiat oil interests

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