The Hindu : Business : OVL in talks with Sudan for oil blocks

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Wednesday, Nov 07, 2007
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OVL in talks with Sudan for oil blocks

Special Correspondent

NEW DELHI: The Oil and Natural Gas Corporation Videsh Limited (OVL) is now holding talks to acquire stake in two oil blocks in Sudan, Awad Ahmed al-Jaz, Sudan’s Energy Minister, stated here on Tuesday after his meeting with Petroleum and Natural Gas Minister Murli Deora on the sidelines of the India-Africa hydrocarbon conference. “OVL has now interests in three blocks in Sudan and is on the way of joining a fourth one. It is also applying for a fifth and possibly a six property,” Mr. Awad Ahmed al-Jaz told newsmen.

OVL is seeking a 30 per cent stake from Petronas of Malaysia in the 65,856 sq. km. Block 8 in Blue Nile Basin, Northeast of Sudan’s highly prolific Melut Basin. Petronas Carigali Overseas has a 77 per cent interest in the block, while the remaining equity is shared between Sudan’s national oil company Sudapet and the High Tech Group.

OVL Managing Director R. S. Butola said the company had shown interest in taking the unallocated 32.5 per cent stake in Block B where Total of France was the operator.

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