Monday, December 05, 2005
NEW DELHI: Sudan has asked more Indian companies to participate in three oil exploration blocks and undertake a refinery project, even as ONGC Videsh Ltd is set to receive more equity oil from the North African country in April.
Sudan's Energy and Mining Minister Awad Ahmad al-Jaz said the additional oil would come from two blocks in which India's state-owned OVL holds stakes and which are expected to start production soon.
"By April, one block is expected to start oil production. Initially it will be around 40,000 barrels per day (bpd), which will later go up to 60,000 bpd," al-Jaz said.
"The preliminary seismic survey in the second block has also started," he said.
OVL, the overseas arm of the Oil and Natural Gas Corporation, holds stakes of 24.12 percent and 23.5 percent in two blocks in Sudan, the largest African nation and also home to one of the biggest oil reserves in that region.