Petroleum Africa
Find us on: 
Friday, March 15, 2013
Reports have India’s state-owned ONGC and Oil India Ltd. (OIL) making a play for a stake in Mozambique’s Offshore Area 1. The two companies are said to have made a joint-bid for a 20% stake offered by the acreage’s operator Anadarko Petroleum and partner Videocon Group.
Anadarko is looking to reduce its stake in an effort to defer some of the costs of developing the project. Videocon is looking to sell out its 10% stake in the block.
The joint bid has not been confirmed by ONGC or OIL at this time; however, it should be noted that ONGC had expressed an interest in gaining a stake in the acreage prior to this report. The company, in partnership with GAIL, considered entering the fray for Cove Energy which held a minority stake in the acreage.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
