Offshore Oil Exploration

ONGC Videsh Ltd (OVL) on Thursday announced that it has started exploration of a well in an offshore block in Bangladesh. OVL has become the first Indian entity to search for oil and gas in the neighbouring nation.

While Iran drags its feet on awarding a crucial contract for gas exploration in its Farzad B offshore field to ONGC Videsh, India has decided to cut back on oil imports from Iran by 3 million tons (roughly 25 percent) in the current financial year.

Shares of oil exploration companies such as Shiv Vani Oils, Aban Offshore, Dolphin Offshore Enterprises, Hindustan Oil Exploration, Selan Exploration Technology and Jindal Drilling Industries came in high demand on Wednesday after Petroleum Minister Dharamendra Pradhan announced the auction of 69 small and marginal oil fields.

The company had in May 2006 signed a production sharing contract (PSC) for the deep-water exploration Block 128 having an area of 7,058 square kilometres in Offshore Phu Khanh Basin, Vietnam.

ONGC Videsh Ltd (OVL) is among over a dozen international oil companies shortlisted to bid for Mexico's second round of bidding for offshore oil exploration blocks.

Petrobras, as the company is known, earlier this week announced the oil discovery in a deep-water well in the Poco Verde area in the BM-SEAL-4 exploration block, off the coast of the northern state of Sergipe.

Oil India Ltd, the second largest state explorer, has signed a contract for two offshore oil and gas blocks it had bagged in Myanmar.

ONGC Videsh Ltd, the overseas arm of state-run explorer Oil and Natural Gas Corp (ONGC), has signed an agreement to expand its oil and gas exploration in offshore Vietnam.

OMEL - a joint venture of ONGC Videsh and Mittal Investment Sarl - had in 2005 won right to explore for oil and gas in offshore OPL-279 and OPL-285 blocks after committing to invest $6 billion in a greenfield refinery, a MW power plant or a railway line from east to West of Nigeria.

Russian President Vladimir Putin on Thursday denied reports that Russia plans to reopen a Soviet-era base in Cuba from which it once spied on the United States.

ONGC Videsh Ltd (OVL), the overseas arm of state-owned explorer Oil and Natural Gas Corp (ONGC), has signed a deal with Russia's largest oil and gas producer Rosneft to jointly explore hydrocarbons in the offshore Arctic.

Oil and Natural Gas Corp (ONGC) today flagged off its latest offshore supply vessel (OSV), a step that will strengthen the state-owned exploration giant's operational infrastructure.

OVL, which has stakes in the A-1 and A-3 gas discovery blocks and three other offshore acreages in Myanmar, was last week awarded two oil and gas exploration blocks in that country's Onshore Blocks Second Bidding Round - 2013.

State-run explorer Oil India expects to raise 80-90 per cent of the $1 billion it has agreed to pay for a stake in a Mozambique offshore gas block through overseas debt, its CFO said on Monday.

Japan's top oil and gas explorer, Inpex Corp, said on Monday that it had agreed to acquire a 26 per cent stake in an offshore Indian exploration block, KG-DWN-2004/6, from state-run Oil and Natural Gas Corp.

ONGC Videsh Ltd (OVL) on Thursday announced that it has started exploration of a well in an offshore block in Bangladesh. OVL has become the first Indian entity to search for oil and gas in the neighbouring nation.

While Iran drags its feet on awarding a crucial contract for gas exploration in its Farzad B offshore field to ONGC Videsh, India has decided to cut back on oil imports from Iran by 3 million tons (roughly 25 percent) in the current financial year.

Shares of oil exploration companies such as Shiv Vani Oils, Aban Offshore, Dolphin Offshore Enterprises, Hindustan Oil Exploration, Selan Exploration Technology and Jindal Drilling Industries came in high demand on Wednesday after Petroleum Minister Dharamendra Pradhan announced the auction of 69 small and marginal oil fields.

The company had in May 2006 signed a production sharing contract (PSC) for the deep-water exploration Block 128 having an area of 7,058 square kilometres in Offshore Phu Khanh Basin, Vietnam.

ONGC Videsh Ltd (OVL) is among over a dozen international oil companies shortlisted to bid for Mexico's second round of bidding for offshore oil exploration blocks.

Petrobras, as the company is known, earlier this week announced the oil discovery in a deep-water well in the Poco Verde area in the BM-SEAL-4 exploration block, off the coast of the northern state of Sergipe.

Oil India Ltd, the second largest state explorer, has signed a contract for two offshore oil and gas blocks it had bagged in Myanmar.

ONGC Videsh Ltd, the overseas arm of state-run explorer Oil and Natural Gas Corp (ONGC), has signed an agreement to expand its oil and gas exploration in offshore Vietnam.

OMEL - a joint venture of ONGC Videsh and Mittal Investment Sarl - had in 2005 won right to explore for oil and gas in offshore OPL-279 and OPL-285 blocks after committing to invest $6 billion in a greenfield refinery, a MW power plant or a railway line from east to West of Nigeria.

Russian President Vladimir Putin on Thursday denied reports that Russia plans to reopen a Soviet-era base in Cuba from which it once spied on the United States.

ONGC Videsh Ltd (OVL), the overseas arm of state-owned explorer Oil and Natural Gas Corp (ONGC), has signed a deal with Russia's largest oil and gas producer Rosneft to jointly explore hydrocarbons in the offshore Arctic.

Oil and Natural Gas Corp (ONGC) today flagged off its latest offshore supply vessel (OSV), a step that will strengthen the state-owned exploration giant's operational infrastructure.

OVL, which has stakes in the A-1 and A-3 gas discovery blocks and three other offshore acreages in Myanmar, was last week awarded two oil and gas exploration blocks in that country's Onshore Blocks Second Bidding Round - 2013.

State-run explorer Oil India expects to raise 80-90 per cent of the $1 billion it has agreed to pay for a stake in a Mozambique offshore gas block through overseas debt, its CFO said on Monday.

Japan's top oil and gas explorer, Inpex Corp, said on Monday that it had agreed to acquire a 26 per cent stake in an offshore Indian exploration block, KG-DWN-2004/6, from state-run Oil and Natural Gas Corp.