With negotiations stuck over pricing of natural gas, ONGC Videsh Ltd has offered to invest $6.2 billion in development of Iran’s giant Farzad-B gas field in the Persian Gulf while leaving the marketing of gas to Tehran.
With negotiations stuck over pricing of natural gas, ONGC Videsh Ltd has offered to invest USD 6.2 billion in development of Iran’s giant Farzad-B gas field in the Persian Gulf while leaving the marketing of gas to Tehran.
ONGC Videsh Ltd and its partners have acquired a 10 per cent stake in a large offshore oilfield in Abu Dhabi for USD 600 million, the first time any Indian company has set foot in the oil-rich UAE.
Two joint ventures of steel baron Lakshmi Niwas Mittal with ONGC Videsh Ltd are shutting shop, documents filed with the Registrar of Companies (RoC) show.
India’s biggest oil explorer plans to snatch up producing assets to reach its goal of raising overseas output by more than half in about three years, a faster route than drilling for new reserves.
China and India are each targeting a share of Abu Dhabi’s largest offshore oil fields as the Persian Gulf producer seeks partners to boost output and ensure exports of its oil to two of the world’s most promising markets.
Indian oil firms are in talks with state-run Abu Dhabi National Oil Co (Adnoc) to acquire a stake in its ADMA-OPCO offshore oil concession when it comes up in 2018, Indian officials said on Friday.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), on Monday said it hasn’t heard from Iran on the USD 11 billion ‘best offer’ it gave for developing the Farzad-B gas field.
ONGC Videsh Ltd and its partners in Azerbaijan’s giant ACG oil fields have agreed to pay USD 3.6 billion bonus to the Azeri government for extension of the field contract by 25 years to 2049.
An official at the National Iranian Oil Company says Iran is mulling over three scenarios to develop Farzad-B, a large gas reservoir in the Persian Gulf.