ONGC, Oil India may bid for Mozambique gas stake

State-owned Oil and Natural Gas Corp's overseas arm and Oil India Ltd are considering a joint bid for a 20% stake in a Mozambique gas field, two sources familiar with the matter told Reuters.

US oil and gas explorer Anadarko Petroleum Corp and Indian billionaire Venugopal Dhoot have launched the auction of a 20% stake in Mozambique's Rovuma gas field that could fetch $4.5 billion, sources familiar with the matter told Reuters.

ONGC Videsh head DK Sarraf declined comment. Oil India Director Finance TK Ananth Kumar said all options were open for the company.