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

Charming tales of the Snakeman’s early years

Snakes, Drugs and Rock ’N’ Roll: My Early Years By Romulus Whitaker with Janaki Lenin HarperCollins, 400 pages, Rs 699

Gripping graphic narrative helps make sense of pandemics past

The Moral Contagion By Julia Hauser and Sarnath Banerjee HarperCollins, 140 pages, Rs 699 The world has lar

“Globally, there is unprecedented positivity for India”

Addressing the Viksit Bharat Viksit Uttar Pradesh program in Lucknow on Monday, prime minister Narendra Modi launched 14,000 projects across the state, worth more than Rs 10 lakh crore at the fourth groundbreaking ceremony of UP Global Investors Summit held in February 2023. The projects relate to sectors

World’s biggest bird-a-thon begins in India

During the four days from Feb 16, more than a thousand birdwatchers throughout India are coming together with the goal of documenting as many birds as possible across the country’s diverse locations. Over one lakh birdwatchers globally participate in the annual Great Backyard Bird Coun

Comments sought on Draft Guidelines for Prevention of Misleading Advt in Coaching Sector

The Central Consumer Protection Authority has sought public comments on the ‘Draft Guidelines for Prevention of Misleading Advertisement in Coaching Sector’. The draft guidelines are placed on the website of the Department of Consumer Affairs and are accessible through the link:

Electoral bond scheme unconstitutional: Supreme Court

In a landmark judgment, the Supreme Court of India has held the anonymous, unregulated and unlimited funding through electoral bonds and companies as unconstitutional. The five-judge Constitution Bench of the Supreme Court comprising chief justice DY Chandrachud and justices Sanjiv Khanna, B

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter