1.
Teen solves centuries-old math problem
NEW DELHI, Nov. 8 (UPI) -- India's ONGC Videsh Ltd. is in talks to acquire a stake in two Sudanese oil blocks.
OVL is the overseas arm of state-run Oil and Natural Gas Corp.
“OVL is present in three blocks in Sudan and is on the way to joining a fourth one. It is also applying for a fifth property,” Sudanese Energy Minister Awad Ahmed al-Jaz said on the sidelines of the India-Africa Hydrocarbon Conference in New Delhi Wednesday.
OVL Managing Director and Chairman R.S. Butola said the company wanted a 30 percent stake from Petronas of Malaysia in Block 8 in the Blue Nile Basin, northeast of the prolific Melut Basin. Petronas Carigali Overseas has a 77 percent interest in the block. The remaining equity is with Sudan’s national oil company, Sudapet (15 percent), and the High Tech Group (8 percent).
He said Petronas had undertaken seismic surveys in the block, and drilling is yet to begin.
Butola said the company is also interested in an unallocated 32.5 percent stake in Block B where French major Total is the operator. Total has a 31 percent to 32 percent stake in the block. The block also has White Nile as a partner.
OVL has three blocks in Sudan -- 5A, 5B, and 1,2, & 4. Petronas had waived its pre-emption rights to allow OVL to buy Austrian firm OMV’s stake in Block 5A and 5B. OVL acquired OMV’s 26.125 percent stake in exploration block 5A, and 24.5 percent stake in Block 5B for $115 million.
Petronas Carigali Overseas Sdn Bhd (Petronas) is the operator of Block 5A, with the remaining 5 percent with Sudapet.
|
|
|
|
|
|
| Additional Energy Resources Stories | |
WELLINGTON, New Zealand, May 25 (UPI) --
Authorities in New Zealand announced two officers of the wrecked cargo vessel Rena, which leaked oil in October, were sentenced to seven months in prison.
|
MONROVIA, Calif., May 25 (UPI) --
Unmanned aerial vehicle manufacturer AeroVironment will demonstrate the use of its products for post-disaster U.S. government communications.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
The photos are familiar, but the captions are not, as economic tension skips across the continent of Europe.
|
| Stories | Photos | People | Comments |
View Caption
