OVL to bid as operator for deepwater blocks in Angola

New Delhi, Jul 4 (UNI) Oil and Natural Gas Corporation Ltd's overseas investment arm, ONGC Videsh Ltd (OVL), has been shortlisted to bid for deepwater blocks in Angola.

''Angola has prequalified OVL to bid as an operator in deepwater blocks,'' an official statement said here today.

The announcement was made at a meeting between Petroleum and Natural Gas Minister Murli Deora and his Angolan counterpart on the sidelines of 19th World Petroleum Congress in Madrid, it added.

Angola is planning to offer more than 10 offshore exploration blocks, including deepwater blocks for bidding by exploration and production (E&P) companies, which are likely to be invited after September, once elections in the south-west African nation are over.

Mr Deora also proposed that OVL and Angola's national oil company 'Sonongal' form a joint venture to participate in the next round of offer on exploration blocks in Angola.

OVL had recently prequalified to develop oil fields in Iraq as well.

At present, OVL has interests in 38 oil assets in 18 countries.

UNI AK SR PM1938