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ONGC Videsh signs agreements to acquire FAR stake in Senegal blocks

OVL will acquire 13.6667 per cent participating interest for an upfront consideration of $45 million and contingent payments payable annually

Topics
ONGC | ONGC Videsh | OVL

Shine Jacob  |  New Delhi 



Representative Image
The completion of the present transaction would mark ONGC Videsh entry in Senegalese offshore in a significant project. Representative Image

Videsh (OVL) has signed definitive binding agreements with Australia’s FAR for acquiring 13.6667 per cent participating interest in exploitation area of Sangomar field and 15 per cent participating interest in remaining contract area of Rufisque, Sangomar Offshore and Sangomar Deep Offshore (RSSD) Block in Senegalese offshore.

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First Published: Wed, November 11 2020. 09:50 IST

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