India's Videocon Industries (BSE:511389) and Bharat Petroleum (BSE:500547) have taken a 10 per cent stake each in an offshore oil exploration block in Mozambique.

Videocon Energy Ventures Ltd, the overseas arm of Videocon Industries, and Bharat PetroResources Ltd, a unit of BPCL, have signed separate agreements with Anadarko Mozambique Ltd for taking 10 per cent stake participating interest in Offshore Area-1, Videocon said in a statement.

Anadarko has 36.8 per cent stake in the exploration block, while Emperessa Nacional de Hidrocarbonetos (ENH), a state-owned of Mozambique has 15 per cent stake. Artumas of Mozambique has 8.5 per cent and the remaining 20 per cent is with UK-based Mitsui E&P.

Videocon said its capital outlay for the transaction was estimated at US$75 million.

(PTI)