OVL to participate in Block 8 in Sudan
New
Delhi,
Nov
6:
ONGC
Videsh
Ltd,(OVL)
state-run
ONGC's
overseas
investment
arm,
today
said
it
is
in
talks
with
Malaysia's
Petronas
to
take
32
pc
stake
in
block
8
in
Sudan.
''We are in talks with Petronas to take 31-32 pc stake in Block 8 in Sudan'' ONGC Videsh Ltd Director R S Butola told reporters here.
The company will also join the Block B in which Total, Marathon Oil and Sudanese state-owned oil comapny is 31-32 per cent stake each, Sudan Energy Minister Awad Ahmad al-Jaz said.
The company is also operating in block 1, 2 and 4 and 5A in Sudan.
ONGC Videsh Ltd has a presence in 29 oil and gas projects spread over 15 countries and is spearheading India's quest for securing energy security through overseas equity oil.
UNI
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Story first published: Tuesday, November 6, 2007, 10:55 [IST]