Shirish Nadkarni
OGJ Correspondent
MUMBAI, Oct. 4 -- ONGC Videsh Ltd. (OVL), the overseas arm of India's state-owned Oil & Natural Gas Corp., expects to sign in November a contract for 100% interest in Block 127 in the Phu Khanh basin off central Vietnam.
The block is in more than 400 m of water and covers 9,264 sq km. OVL holds a 45% interest in the producing Lan Do and Lan Tay gas fields in the Nam Con Son project (OGJ Online, Jan. 20, 2003).
On Block 127, OVL plans to invest $70 million in the first phase of exploration, during which it will drill two wells.
