ONGC Videsh, the overseas arm of Oil and Natural Gas Corp, is set to get two more blocks in Sudan.For OVL, the African country is already the biggest foothold.
NEW DELHI: ONGC Videsh, the overseas arm of Oil and Natural Gas Corp, is set to get two more blocks in Sudan.
For OVL, the African country is already the biggest foothold from where it is bringing about 3.2 million tonnes (mt) of oil for sister-firm Mangalore Refinery & Petrochemicals Ltd (MRPL).
GAIL India, on its part, is looking for a stake in an LNG plant in Nigeria and has expressed interest in setting up a gas-based petrochemical plant in the West African nation.
GAIL India chairman and managing director UD Choubey said so much to reporters after meeting visiting Nigerian vice-president Jonathan Goodluck here.
“We are interested in sourcing LNG from Nigeria and will be interested in taking a stake in future LNG manufacturing plants in that country,” Choubey said.
OVL wants to buy a 30% stake from Petronas of Malaysia in the 65,856 sq km block 8 in Blue Nile Basin, northeast of Sudan’s Melut Basin and is also keen on a stake in Block B.
“OVL is present in three blocks in Sudan and is on the way of joining a fourth one. It is also applying for a fifth and possibly a sixth property,” Sudanese energy minister Awad Ahmed al-Jaz told reporters after meeting Union petroleum minister Murli Deora.
Ahmed is here for the two-day India-Africa Hydrocarbon Conference.
Petronas Carigali Overseas has a 77% interest in the block, while the remaining equity is shared between Sudan’s national oil company Sudapet (15%) and High Tech Group (8%).
OVL managing director RS Butola said the company had also expressed interest in taking the unallocated 32.5% stake in Block B.
Total of France operates the block. It has a 31-32% stake in the block that also has White Nile as a partner. However, 32.5% in the block is yet to be allocated to any firm.
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