Mumbai, Dec 20 :    Mumbai, Dec 20:  Tata Power Company, the country's largest private power utility today announced its acquisition of oil and gas exploration company Tata Petrodyne Ltd, for Rs 145 crore. This acquisition is in line with Tata Power's corporate strategy to establish a national presence in three core sectors of the economy - power, energy and communications infrastructure, a statement from the company said. Commenting on the acquisition, Adi J engineer, managing director, Tata Power said, 'Tata Power has identified domestic energy sector as a high growth area. The acquisition of Tata Petrodyne represents a firm step to significantly stregthen our position as a leading player in this sector.' Tata Petrodyne Ltd, the 100 per cent subsidiary of Tata Industries Ltd is engaged in the business of oil and gas exploration and production. The company is consortium with global majors Cairn Energy, Enron, Hardy Oil & Gas and leading Indian Oil, ONGC and Hindustan Oil Exploration Company (HOEC) for its gas and oil exploration and development projects in three offshore blocks. The Tata group had indicated earlier this year that Tata Industries, which will focus increasingly on the new economy sectors, would identify expertise areas that can be marketed independently to both Tata and non-Tata group companies. The consideration of Rs 145 crore for the acquisiotion was based on a financial valuation by S B Billimoria and technical evaluation by a leading nternational petroleum consultant. The transaction will be financed from the company's internal resources.