India’s ONGC, PetroVietnam sign 3-yr cooperation pact

India’s state-run explorer Oil and Natural Gas Corp said on Wednesday its overseas investment arm has signed a three-year agreement with PetroVietnam for developing long-term cooperation in the oil sector.
The pact between ONGC Videsh and Vietnam’s oil and gas agency covers new investments and strengthening presence from drilling-to-dispensing in Vietnam, India, and other countries, ONGC said in a statement.

ONGC Videsh, along with TNK-BP and PetroVietnam, has a stake in a gas field in the Nam Con Son basin, off Vietnam’s south coast. In 2006, Vietnam had awarded two exploration blocks — 127 and 128 — in Phu Kanh basin to ONGC Videsh.
Tuoi Tre

Tags: ONGC, PetroVietnam

Posted by VBN on Oct 13 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry