ONGC Videsh, the oversees arm of India's Oil and Natural Gas Corporation, is in negotiations to purchase stakes in two more oil concessions in Sudan, reported the London daily Financial Times on 16 September. The news follows the recent acquisition of Austria's OMV holding in block 5A, in the Muglad basin, and block 5B, in the Thar Jarth field, for a total of $115 million (MEED 12:9:03).
ONGC is also in negotiations with the government in Khartoum to build a 750-kilometre pipeline from Khartoum to Port Sudan, which is reportedly worth $250 million.
Atul Chandra, managing director of ONGC, said that the exploration deals could be finalised within two months and, along with the pipeline, would raise the company's investment in the country over $1,000 million.
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