Search results for: OVL

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  • 25 June 2013

    ONGC Videsh Limited (OVL) and Oil India Limited (OIL) have signed definitive agreements in Singapore on Tuesday with Videocon Mauritius Energy Limited to acquire 100% of shares in Videocon Mozambique Rovuma 1 Limited, the company holding a 10% participating interest in the Rovuma Area 1 Offshore Block in Mozambique for US$ 2,475 million. The acquisition […]

  • 25 June 2013
    Business & Finance

    ONGC Videsh Limited (OVL) and Oil India Limited (OIL) have signed definitive agreements in Singapore on 25th June 2013 with Videocon Mauritius Energy Limited to acquire 100% of shares in Videocon Mozambique Rovuma 1 Limited, the company holding a 10% participating interest in the Rovuma Area 1 Offshore Block in Mozambique (Area 1) for US$ […]

  • 10 June 2013

    ONGC Videsh Limited (OVL) and Oil India Limited (OIL) have signed a definitive agreement with Videocon Mauritius Energy Limited to acquire 100% of shares in Videocon Mozambique Rovuma 1 Limited for US$ 2475 million. The company holding a 10% participating interest in the Rovuma Area 1 Offshore Block in Mozambique (Area 1). The acquisition is […]

  • 18 April 2011
    Business & Finance

      Videsh Limited signed definitive agreements for acquisition of 25% participating interest in Satpayev exploration block with KazMunaiGas, the national oil company of Kazakhstan on16thApril, 2011 at Astana, Kazakhstan in presence of Hon’blethe Prime Minister of India and the President of Kazakhstan. With signing of this project OVL has strengthened its position further and now […]

  • 4 October 2013

    The Cabinet Committee on Economic Affairs has approved the proposal of the Ministry of Petroleum and Natural Gas to authorize ONGC Videsh Limited (OVL) and Oil India Limited (OIL) to acquire 20 percent Participating Interest in Rovuma Area 1 Offshore Block in Mozambique. The transaction comprises acquisition of:- 100 percent of shares in Videocon Mozambique […]

  • 27 November 2013
    Business & Finance

    India’s ONGC Videsh has signed Memorandum of Understanding with Petrovietnam (PVN) to promote the joint cooperation in hydrocarbon sector in Vietnam, India and other countries.   The MOU signing was witnessed by Prime Minister of India and Secretary General of Communist Party of Vietnam .The MOU was signed by D.K. Sarraf, CEO & MD of […]

  • 18 February 2014

    India’s largest international oil and gas E&P company ONGC Videsh (OVL) has signed Production Sharing Contract (PSC) for two shallow water exploration blocks SS-09 & SS-04 in the Bay of Bengal of Bangladesh on 17th February, 2014. OVL along with Oil India Limited (OIL) formed a consortium (50:50) and participated in the Bangladesh Offshore Bidding Round […]

  • 7 April 2014

    ONGC Videsh (OVL), which holds a small stake in Anadarko-operated giant gas field off Mozambique, is reportedly in negotiations with the consortium to buy liquefied natural gas. “Price is about $13-14 (per unit) as per the consortium’s pricing formula. About $1 would be additional cost for transportation etc,” The Economic Times cited OVL‘s managing director […]

  • 4 October 2013

    The Cabinet Committee on Economic Affairs, Government Of India, has approved the proposal of the Ministry of Petroleum and Natural Gas to authorize ONGC Videsh Limited (OVL) and Oil India Limited (OIL) to acquire 20 percent Participating Interest (PI) in Rovuma Area 1 Offshore Block in Mozambique (Area 1). The transaction comprises acquisition of: (a) 100 […]

  • 4 March 2014
    Business & Finance

    India’s ONGC Videsh Limited (OVL) has completed the acquisition of 10% participating interest (“PI”) in the Rovuma Area 1 offshore Block from Anadarko Moçambique Area 1 Limitada. On the 24th August 2013, OVL signed definitive agreements with Anadarko to acquire this interest. “Acquisition of an additional 10% Interest in Area 1 follows our earlier announcement […]

  • 4 March 2014

    ONGC Videsh Limited (OVL) said it has completed the acquisition of 10% participating interest in the Rovuma Area 1 offshore Block from Anadarko Moçambique Area 1 Limitada. On the 24th August 2013, OVL signed definitive agreements with Anadarko to acquire this interest. Acquisition of an additional 10% Interest in Area 1 follows the company’s earlier […]

  • 7 February 2014

    Russia’s Rosneft has reportedly offered 10 offshore blocks to India’s ONGC Videsh (OVL). According to The Economic Times, OVL , the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), will evaluate data provided by Rosneft before deciding on the final agreement. The offer covers nine oil blocks in the Barents […]

  • 27 August 2008

    The battle for Russian and Kazakhstan operator Imperial Energy looks like it is coming to a close with the company confirming an offer from India’s ONGC Videsh. Today Imperial said it is “finalising the terms of a possible recommended pre-conditional cash offer” with ONGC Videsh based on 1,250 pence per Imperial share, which implies a […]

  • 8 January 2014

    ONGC Videsh Limited (OVL) and Oil India Limited (OIL) have completed the acquisition of 10% PI in the Rovuma Area 1 offshore Block, Mozambique by acquiring 100% shares of Videocon Mozambique Rovuma 1 Limited, the company holding the 10% PI in the Area 1 from Videocon Mauritius Energy Limited. On 25th June 2013, definitive agreements […]

  • 8 January 2014

    ONGC Videsh Limited (OVL) and Oil India Limited (OIL) have completed the acquisition of 10% PI in the Rovuma Area 1 offshore Block, Mozambique by acquiring 100% shares of Videocon Mozambique Rovuma 1, the company holding the 10% PI in the Area 1 from Videocon Mauritius Energy. On 25th June 2013, definitive agreements were signed […]

  • 18 February 2011
    Business & Finance

    The Sri Lankan government is willing to award three hydrocarbon blocks in its northern offshore area to India’s ONGC Videsh Ltd (OVL) on … Source: Livemint [mappress] Source:Livemint, February  18, 2011;

  • 24 June 2014

      Ashok Varma has been named the new Director (Onshore) of Oil and Natural Gas Corporation Ltd.  Prior to his joining as Director (Onshore), he was heading the Eastern Offshore Asset at Kakinanda, where he was instrumental in putting the Eastern Offshore Asset on production. Earlier, Varma steered the Imperial Energy in Russia, a subsidiary of […]

  • 29 November 2007

    ONGC’s wholly-owned subsidiary ONGC Videsh Ltd. (OVL) has bagged two blocks in Brazil, viz. deepwater Block 470 in the highly prospective Espirito Santo basin and shallow water Block 1413 in another highly prospective Santos basin, amid stiff competition from International companies.

  • 14 February 2014

    ONGC Videsh Limited (OVL), the overseas arm of Oil and Natural Gas Corporation Limited (ONGC), has entered into separate agreements with two consortiums of international banks to raise USD 2.5 billion by way of offshore borrowings to finance its acquisition of 10% participating interest in Rovuma Area I Block in Mozambique offshore. The first facility […]

  • 15 January 2014

    In a meeting between Indian petroleum Minister, Veerappa Moily, and his Mozambique counterpart, Esperanca Bias, during Petrotech 2014, the Mozambique Minister for Mineral Resources showed optimism that the deals relating the LNG project will fructify soon, and the first LNG trains may start moving by 2019. This was one of the 11 bilateral meetings lined up during […]

  • 29 August 2014
    Business & Finance

    Narendra K Verma has taken charge at India’s ONGC Videsh as its Managing Director. Verma has been Director (Exploration) of the Maharatna ONGC since April 1, 2013 after having a more than three decades long career with the oil major. Prior to joining the Board of Directors of ONGC, he was the Director (Exploration) for […]

  • 14 February 2014

    ONGC Videsh Limited (OVL), the overseas arm of Oil and Natural Gas Corporation Limited (ONGC), has entered into separate agreements with two consortiums of international banks to raise USD 2.5 billion by way of offshore borrowings to finance its acquisition of 10% participating interest in Rovuma Area I Block in Mozambique offshore. The first facility […]