Sudan offers three oil and gas blocks to ONGC Videsh - minister | Reuters

NEW DELHI Sudan has offered three oil and gas blocks for exploration and development to India's ONGC Videsh as part of efforts to increase the country's oil revenue, oil minister Mohamed Zayed Awad said on Wednesday.

The African nation lost three quarters of its oil revenue when South Sudan seceded in 2011 and currently produces about 100,000 barrels per day (bpd).

Three areas have been offered to the Indian company, comprising blocks 8, 15 and 24, the last of which is in the development stage, Awad told Reuters after meeting his Indian counterpart Dharmendra Pradhan ahead of a two-day India-Africa Hydrocarbon summit.

Awad also asked ONGC to consider buying a stake in Sudan's Block 17, which is producing about 7,000 bpd oil.

Block 17 is operated by Star Oil, in which Yemen's Ansan Wikfs owns a 66 percent stake and Sudan's Sudapet holds the remainder.

Awad said the Yemen company wants to sell its stake in the venture.

ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corp, already has a 25 percent stake in onland blocks 1, 2, and 4, which together produce about 50,000 bpd.

(Reporting by Nidhi Verma; Editing by David Goodman)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Jan 20, 2016 22:13 PM

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