OVL seeking to participate in two oil blocks in Sudan

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New Delhi, Nov 6 (UNI) ONGC Videsh Ltd (OVL) is seeking stake in two oil blocks in Sudan held by France's Total and Petronas of Malaysia.

''We are eyeing around 30 per cent stake in Block 8 from Petronas.

The onshore Block 8 covers an area of 65,856 square kilometers within the Blue Nile Basin, northeast of Sudan's highly prolific Melut Basin,'' OVL Managing Director R S Butola told reporters here.

Blcok 8 is currently being operated by Petronas (85 per cent) and state-owned Sudapet (15 per cent).

''We have alreday applied for the block and will join it soon,'' he added.

The company is also seeking 31-32 per cent stake in Block B in Sudan. Total, via its subsidiary Total E&P Soudan, operates with a 32.5 per cent interest the 118,000-square-kilometer Block B in southeastern Sudan under a production sharing contract, alongside Marathon Petroleum Sudan Ltd ( 32.5 per cent), Kufpec Sudan Ltd (25 per cent) and state-owned Sudapet (10 per cent).

ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp, has already acquired stake in two oil blocks in Sudan for 136 million dollars. It has bought out 26.125 per cent stake in exploration block 5A and 24.5 per cent stake in block 5B from Austria's OMV. .

OVL also owns a 25 per cent stake in the Greater Nile Petroleum Operating Company in Sudan.

UNI

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