Since inception, we at OVL
have focused all our efforts on customer satisfaction.
had in May closed a deal to acquire 15 per cent stake in JSC Vankorneft -- a company organised under the law of Russian Federation, which is the owner of Vankor Field and North Vankor licence.
has a stake in another Orinoco belt project, the San Cristobal oilfield at Junin, which is producing 25,000 b/d.
, which produces about 175,000-180,000 barrels per day (bpd) from its overseas assets, wants to double output by 2018 and increase it six-fold by 2030.
A deal might be signed soon" a top OVL
executive told Business Standard.
The report analyzes the rationale behind the planned acquisition of 10% stake in the Offshore Area 1 block, Rovuma basin by OVL
later succeeded in acquiring 15% in another block - in Sao Tome's JDZ - through its Nigerian unit OVL
Singh told Parliament that OVL
had decided to return Block 128 to Vietnam as exploration there wasn't commercially viable.
ONGC set up OVL
in 1965 as its fully-owned overseas E&P arm.
, IOC and OIL explored for oil and gas in Farsi block and proposed investing $5.
had teamed up with Oil India Ltd and TPAO to bid USD 1.
In addition, OVL
will also take forward the issue of getting development rights for offshore Farsi gas fields for which it has teamed up with Indian Oil Corporation (IOC) and Oil India Limited (OIL) and submitted a $5 billion development plan.