Financial Daily from THE HINDU group of publications
Wednesday, Mar 02, 2005

Port Info

Group Sites

Corporate - Announcements
Industry & Economy - Petroleum

ONGC Videsh bags Syrian oil block contract

Our Bureau

Mumbai , March 1

ONGC Videsh Ltd, the overseas arm of exploration company Oil and Natural Gas Corporation, has bagged a contract to develop an oil block believed to have in-place reserves of 600 million barrels, along with its consortium partner IPR Energy Red Sea Inc.

The companies will have to invest $20 million to develop North Ramadan block no. 6, situated in the central part of the Gulf of Suez, a news release said.

OVL has a 70-per cent participating interest in the development phase and will work as a joint operator with IPR, which is also partnering OVL in developing an exploration block in Syria.

Other international oil companies that had bid for the North Ramadan block include British Petroleum, Petro SA and Ludin, the release said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Tata Motors unveils `crossover' at Geneva

P&G Hygiene to pay royalty to parent co
ONGC Videsh bags Syrian oil block contract
APGenco bags Sikkim contract
Dwarikesh Sugar plans FCCB issue to raise $25 m
Award for silk carpet exports
ICAI council: Govt move to have more nominees rejected
Partnership firms will have to file I-T returns
Citigroup arm picks up stake in Abhishek Industries
Ashok Leyland mulls plant in North India
First Global Compact meet from March 8
JCT Electronics: BIFR asks creditor bank to submit dues statement
Tata Steel to plead for status quo in rail freight
New models rev up sales of Bajaj Auto sales by 25 pc
Hero Honda sales up 9 pc in Feb
Budget hopes slow Maruti sales in Feb
Behuria takes over as IOC Chairman

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line