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SEEPCO, ONGC may close $2 bn oil and gas deal
March 22, 2013March 22, 2013by In Oil & Gas

SEEPCO, ONGC may close $2 bn oil and gas deal

Sterling Energy and Exploration Production Company (SEEPCO) may sell its 25-30 percent stake in four hydrocarbon blocks in Nigeria to ONGC Videsh, the overseas arm of Oil & Natural Gas Corp (ONGC). The value of the deal, which is not yet finalised, is expected to be $2 billion. Both the companies entered into a confidentiality agreement for the deal and OVL is reportedly conducting due