 "An Oil and Natural Gas Corp's (ONGC) well is pictured in an oil field on the outskirts of Ahmedabad")
The overseas arm of Oil and Natural Gas Corporation ONGC Videsh will acquire 15 percent stake in offshore Namibia block from Tullow Oil.
OVL executed the deal through its subsidiary ONGC Videsh Vankorneft Pte Ltd,
ONGC Videsh (OVL) has signed definitive binding agreements with Tullow Namibia Ltd (Tullow), a wholly owned subsidiary of Tullow Oil plc, for acquiring 15 per cent participating interest in Namibia Petroleum Exploration License 0030 for Block 2012A and related agreements (License) from Tullow’s existing participating interest of 25% in the License, the company said in a statement.
OVL executed the deal through its subsidiary ONGC Videsh Vankorneft Pte Ltd,
ONGC Videsh (OVL) has signed definitive binding agreements with Tullow Namibia Ltd (Tullow), a wholly owned subsidiary of Tullow Oil plc, for acquiring 15 per cent participating interest in Namibia Petroleum Exploration License 0030 for Block 2012A and related agreements (License) from Tullow’s existing participating interest of 25% in the License, the company said in a statement.
Eco Oil and Gas Namibia (Pty)
