Sudan pledges to help ONGC Videsh win Greater Nile blocks

Dec 08, 2003 01:00 AM

Sudan has promised to help India's ONGC Videsh, a subsidiary of Oil and Natural Gas Corp, win new exploration blocks in the African country. OVL is exploring the possibility of buying stakes in blocks 5A and 5B in the Greater Nile Oil Project, which would involve an investment of up to $ 1 bn.
The promise came during a meeting between India's Petroleum and Natural Gas Minister Ram Naik and visiting Sudanese Minister of Mining Awad Ahmed El Jazz. OVL is in talks with Sudan to upgrade the Port Sudan Oil Refinery, and also plans to bid for a stake in the Khartoum-Port Sudan pipeline construction project.

Western oil majors -- because of sanctions imposed by their governments -- have either shied away from investing or slashed their presence in Sudan.
Sudan has been accused of being involved with international extremist groups and the government accused of human rights violation. OVL earlier this year bought Talisman Energy's 25 % stake in the Greater Nile Oil Project, which produces about 230,000 bpd of crude.

Source: Platts
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