ONGC Withdraws Statement on Mozambique Deal

A press release prepared in connection with a potential definitive agreement for ONGC Videsh Limited and Oil India Limited to acquire interest in the Rovuma Area 1 Offshore Block in Mozambique from the Videocon Mauritius Energy Limited, erroneously got issued yesterday, ONGC Videsh said in a statement.

“While we confirm that, we are in advanced negotiations for acquisition of the interest, we wish to clarify that no definitive agreement has been reached.

The inadvertently-issued press release stands formally withdrawn,” the company reported.

[mappress]