Dinesh K Sarraf, Managing Director of ONGC Videsh (OVL) informed reporters that the firm plans to issue $1 billion worth dollar bonds in order to finance its stake buy in Azerbaijan oil fields. The firm delayed its maiden overseas bond issue, which was initially planned between January and March, in order to complete the acquisition
Tag: Azerbaijan
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OVL’s $1 bn acquisition plan gets CCEA nod
The proposal of ONGC Videsh (OVL) to pick up the 2.7213 per cent stake of US energy major Hess Corp in the Azerbaijan oilfield received approval from the Cabinet Committee on Economic Affairs (CCEA). According to the plan, OVL would invest $ 1.001 billion to buy 2.7213 per cent stake of the above mentioned firm in Azeri, Chirag and the deep water porti
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OVL plans to complete Azerbaijan block deal in 3 months
ONGC Videsh (OVL), the overseas arm of state-run oil explorer ONGC, plans to complete the $1 billion acquisition of a stake in an Azerbaijan oilfield by the first quarter of 2013 subject to government and regulatory approvals. Union Cabinet Committee on Economic Affairs (CCEA) is said to be studying the
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ONGC develops 2 projects
Oil And Natural Gas Corporation (ONGC) currently has two projects under development namely Carabobo 1, in Venezuela, which is likely to commence early production by end of 2012-13 and Blocks A1 & A3 in Myanmar, which are likely to commence production in July 2013.
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ONGC develops 2 projects
Oil And Natural Gas Corporation (ONGC) currently has two projects under development namely Carabobo 1, in Venezuela, which is likely to commence early production by end of 2012-13 and Blocks A1 & A3 in Myanmar, which are likely to commence production in July 2013.