India's ONGC eyes two Sudan oil exploration blocks

Tue Nov 6, 2007 4:42am GMT
 
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NEW DELHI, Nov 6 (Reuters) - India's flagship state-owned oil producer Oil and Natural Gas Corp (ONGC.BO) is in talks to buy a 30 percent stake in Sudan's Block 8 from Malaysia's Petronas, as well as a second exploration block, officials said on Tuesday.

"ONGC has three blocks and they are on their way to joining a fourth," Sudan Oil Minister Awad Ahmed al-Jaz told reporters after meeting with Indian officials.

An official with ONGC, which is already a major producer in Sudan, later said the stake on offer was 30 percent of Petronas's total 85 percent holding.

Jaz also said ONGC was seeking to buy a one-third share in Block B, in which European oil major Total (TOTF.PA) has a stake, but could not give additional details. (Reporting by Nidhi Verma, editing by Valerie Lee)

 

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