ONGC Videsh to enter Namibian offshore

Completion of the present transaction would mark ONGC Videsh’s entry in Namibian offshore

GN Bureau | July 6, 2017


#PSU   #ONGC Videsh   #Namibia   #Pancontinental Namibia   #Paragon Oil and Gas  

 ONGC Videsh has signed agreements with Tullow Namibia Limited (Tullow), a wholly owned subsidiary of Tullow Oil plc, for acquiring 30 percent participating interest in Namibia Petroleum Exploration License 0037 for blocks 2112A, 2012B and 2113B and related agreements out of Tullow’s existing participating interest of 65 percent in the license.

Pancontinental Namibia (Pty) Limited with 30 percent participating interest and Paragon Oil and Gas (Pty) Limited with 5 percent participating interest are other partners. Tullow is the operator of the License and shall continue to remain operator after acquisition by ONGC Videsh.
 
The completion of the present transaction would mark ONGC Videsh’s entry in Namibian offshore and is consistent with its strategic objective of adding high impact exploration and production assets to its existing exploration and production (E&P) portfolio.
 

Comments

 

Other News

Master sculptor recalls the making of the Shankaracharya statue

The Golden Chisel: The Story Behind the Making of Ram Lalla  By Seethalakshmi S. and Rahul Nandan Rupa Publications, 168 pages, Rs 395  

Mumbai’s missing affordable homes

Mumbai’s real estate market keeps growing, yet homeownership remains out of reach for much of its population. Three experts – urban researcher Hussain Indorewala, urban planner Vidyadhar Phatak and developer Kamlesh Thakur of NAREDCO Maharashtra, agree that simply constructing more apartments

Rubio denies US foreknowledge of Starlink restrictions in Ukraine

US secretary of state Marco Rubio has said he was unfamiliar with the Wall Street Journal report suggesting Elon Musk had decided to throttle Starlink services in Ukraine, but rejected claims that Washington had ordered the restrictions to pressure Kyiv.   “There was no

Can AI change India’s breast cancer story?

Breast cancer has become a public-health challenge in India. The greatest opportunity is to find cancers earlier. Artificial intelligence (AI) is opening a new era in breast cancer detection. AI systems can analyse mammograms and other breast-imaging studies, identify subtle abnormalities and assist radi

Farm stability in the time of climate change

Indian agriculture is experiencing significant climate volatility, while the world economy seems to be in a highly volatile situation. Economic indices from various countries show that they need to recalibrate their strategies to withstand economic headwinds. In such a challenging situation, a country li

El Niño threatens India’s Rabi crops

India’s southwest monsoon ended with a 13% rainfall deficit in 2026, its weakest performance in a decade, raising concerns over agricultural production, water security and the upcoming rabi season. With El Niño expected to persist into early 2027, experts warn that declining soil moisture, dep

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter