 "ONGC")
India’s Oil & Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter.
State-owned ONGC is discussing acquiring an interest of 20% to 40% in the field, the people said, asking not to be identified as the matter is private. Australia-based Woodside is working with Jefferies Financial Group Inc. on the sale, which could also attract other suitors, the people said.
Deliberations are ongoing and there’s no certainty they’ll result in a deal, according to
