ONGC buys 15% stake in Namibia offshore block from Tullow Oil

Nidhi Verma, November 21, 2017

ONGC Videsh Ltd (OVL), the overseas investment arm of the country’s top explorer Oil and Natural Gas Corp, said on Tuesday it had acquired a 15% stake in Namibia’s offshore Block 2012A from Tullow Oil.
OVL executed the deal through its subsidiary ONGC Videsh Vankorneft Pte Ltd, it said in a statement. Tullow Namibia Ltd had a 25% stake in the block in Namibia’s Petroleum Exploration License area (PEL)0030.
Eco Oil and Gas Namibia (Pty) Ltd, with a 32.5% stake, is the operator of the block.
ONGC Videsh last month bought a 30% stake in PEL 0037 from Tullow Oil.
Reference:

Comments

Post a Comment

Popular posts from this blog

The Print Rukmini S March 23, 2020 After the   largest   single-day increase in the number of novel coronavirus cases in India, it has never been clearer that the pandemic is upon us and the next few weeks are going to throw up a scenario that many still find hard to imagine. From the data we have, here’s a look at the near future, and what the Narendra Modi government needs to do. India is hitting a period of exponential growth It took India forty days to  reach   the first 50 cases, five more days to reach 100 cases, three more days to reach 150 cases and then just  two   more days to reach 200 cases. From here on, the juggernaut is going to roll fast. The number of confirmed cases in India is now doubling in five days or less, down from six days earlier this month. This puts India in line with trajectories of countries across the world — in the United States, cases are now  doubling every two days . Italy discovered its first...
Read more

US 'will never allow' Iran to have a nuclear weapon: Mike Pence

The Economic Times Jan 22, 2018 US Vice President Mike Pence vowed on Monday in an address to the Israeli parliament that Washington would never allow Iran to develop a nuclear weapon.  "I have a solemn promise to Israel, to all the Middle East and to the world - the United States of America will never allow Iran to acquire a nuclear weapon," Pence said to applause from Israeli MPs.  The 2015 deal that was meant to curb Iran's nuclear capabilities was fiercely opposed by Israel, but backed by then-President Barack Obama.  His successor Donald Trump has fiercely criticised the agreement, accusing Tehran of not sticking to it and saying it still allows the Islamic republic to support terrorist organisations across the globe - including Israel's longstanding enemies.  Earlier this month, Trump again waived nuclear-related sanctions - as required every few months to stay in the agreement - but demanded European partners work with Washington to imp...
Read more

Govt allows lateral hiring of experts, 10 top posts on offer

Daily Hunt June 10, 2018 In a bid to infuse domain expertise in key government departments, the department of personnel and training has started the process of lateral hiring. In a newspaper advertisement issued on Sunday, the department invited applications from Indian nationals having expertise in sectors such as revenue, financial services, economic affairs, agriculture, infrastructure and commerce. The move is aimed at bringing in specialized talent in various government departments, contributing to better governance. State government officers in similar positions, officials in public sector undertakings, autonomous bodies, universities, research institutes and those working in private sector companies, consultancies and multinational firms with a minimum of 15 years experience are eligible to apply. This is a pilot project and has received the approval of the Union cabinet, a person familiar with the development said on condition of anonymity. A total o...
Read more