Indian cabinet committee okays stake in offshore Mozambique

India’s cabinet committee on economic affairs has approved the proposal of the ministry of petroleum and natural gas to authorize ONGC Videsh Ltd. and Oil India Ltd. to acquire interest in the Rovuma Area 1 block offshore Mozambique.

ONGC Videsh and Oil India will acquire 10% from Videocon Mauritius Energy Ltd. for $2.475 billion, with closing by Dec. 31 (OGJ Online, June 25, 2013).

ONGC Videsh will acquire another 10% from Anadarko Mozambique for $2.64 billion, with closing in February (OGJ Online, Aug. 26, 2013).

The block, with 2.6 million acres, is in the deepwater Rouvma basin.

Related Articles

OTC: Pemex preparing for cultural transition as Mexico reforms energy laws

05/06/2014 Mexico’s Petroleos Mexicanos (Pemex) is preparing for a major cultural transition while the country’s government moves to implement energy reforms ...

OTC: Nova Scotia seeks bids in active eastern Canada offshore

05/06/2014 Exploration and development remain brisk offshore eastern Canada, provincial officials reported May 6 at the Offshore Technology Conference in Hous...

Falcon farms out portion of Beetaloo basin permits

05/06/2014 Falcon Oil & Gas Ltd., Dublin, has farmed out a portion of its exploration permits in the Beetaloo basin onshore Northern Territory to South Af...

OTC: Ocean-bottom seismic improves resolution for offshore subsurface

05/05/2014 Streamer technology is not new, however, it has gone through many advances within the last 30 years. In 1980, 120 channels were considered advanced...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected