Even as it charts a future roadmap with ambitious targets for increased production and a deeper foray into sustainable energy, India’s largest oil and natural gas producer is also eyeing distressed overseas assets to expand its global footprint. While current geopolitical uncertainty presents opportunities for acquisitions, ONGC will decide on overseas expansions based on pricing...
Tag: Sudan
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Sudan offers OVL 3 more oil & gas blocks for exploration
Sudan has offered ONGC Videsh Ltd three more oil and gas blocks for exploration and production and invited Indian firms to set up a coastal refinery to boost fuel supplies to the African continent.
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´Invest in India´
India has invited countries like the UK, Norway and Greece to invest in ambitious projects and proposals unveiled by the new government to boost the economy.
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OVL restarts production from Sudan asset
Dinesh K Sarraf, Managing Director of ONGC Videsh (OVL) said the firm started producing crude oil from its oilfields in Sudan, which was halted 15 months ago owing to the partition of the African nation.
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OVL buys Hess’ stake in oil field
ONGC Videsh acquired 2.72 percent stake in the Azeri, Chirag and Guneshli Fields and 2.36 percent stake in the associated BTC pipeline for $1 billion from Hess Corporation. Hess Corporation is a global independent energy company primarily engaged in the exploration and production of crude oil and natural gas
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OVL to resume production from South Sudan asset
Reports indicate that Oil and Natural Gas Corp. (ONGC), the overseas unit of state-owned, decided to start production from its oil field in south Sudan hoping that the issue of transit fee for may be resolved amicably. Daniel Peter Othol, South SudanÂ’s ambassador to India mentioned that crude oil would flow by the end of this