OVL records highest production from foreign assets
August 19th, 2010 - 11:46 pm ICT by IANSNew Delhi, Aug 19 (IANS) The overseas arm of state-run ONGC Ltd has reported its highest-ever production of over 8 million tonnes from its foreign hydrocarbon assets last year, parliament was informed Thursday.
“The consolidated production of ONGC Videsh Ltd. (OVL) of Oil plus Oil-Equivalent Gas (O+OEG) during the year 2009-10 was 8.870 million tonnes, recording highest ever oil and gas production from its overseas assets,” Minister of State for Petroleum and Natural Gas Jitin Prasada said in a written reply in the Lok Sabha.
The minister said that OVL has a presence in 15 countries, out of which nine projects in seven countries have oil and gas production.
The largest investment by OVL was of $3.8 billion in Sakhalin-1 project in Russia, followed by the acquisition of London-listed Imperial Energy and shares in Sudan oil blocks.
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- India, Russia to increase hydrocarbon cooperation - Dec 21, 2010
- ONGC-Videsh favours joint exploration with Russian firms - Mar 20, 2010
- India keen to invest in Sudan's oil projects - Oct 30, 2010
- 'Indian oil investments in both Sudans safe' - Apr 04, 2012
- India, Sudan ink deal on expanding energy ties - Dec 08, 2009
- OVL signs deal with Russian firm in oil and gas sector - Dec 09, 2009
- India, Angola to speed up petroleum sector cooperation - Oct 31, 2010
- India seeks higher crude oil supplies from Angola - Oct 31, 2010
- ONGC to invest $174 mn in Myanmar - Oct 29, 2009
- ONGC to invest $20 bn on assets abroad - Mar 14, 2010
- India calls for dialogue between Sudan, South Sudan - Apr 12, 2012
- OVL, GAIL to take part in Chinese pipeline construction - Feb 18, 2010
Tags: acquisition, assets, hydrocarbon, Lok Sabha, minister of state, natural gas, New Delhi, oeg, oil and gas, oil and gas production, oil blocks, oil equivalent, ongc videsh, overseas arm, ovl, parliament, petroleum, reply, sakhalin 1, tonnes