ONGC Videsh is eyeing a bid for an oil block in Ecuador that has recoverable reserves of around 1 billion barrels. Plans also include setting up of a refining facility in the Ecuador.
OVL has signed an MOU with PetroEcuador, Ecuador`s state oil company, to bid jointly for oil and gas blocks in Ecuador and other countries. The MoU encompasses co-operation in the energy sector for the development and promotion of petroleum, gas, electricity, petrochemicals, external hydrocarbon commercialisation and geological and petroleum research.
20-Jul-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}