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    HomeNewsBusinessCompaniesONGC identifying more blocks to buy stake in Kazakhstan

    ONGC identifying more blocks to buy stake in Kazakhstan

    ONGC is in talks with the Kazakh govt and in the process of identifying blocks that could be for exploration or producing assets.

    September 25, 2013 / 16:18 IST

    State explorer Oil and Natural Gas Corporation (ONGC) is in the process of identifying more oil and gas blocks in Kazakhstan in which it could buy stakes, the head of its overseas unit ONGC Videsh said.

    The company is in talks with the Kazakh govt and in the process of identifying blocks that could be for exploration or producing assets, D.K. Sarraf told reporters in New Delhi.

    Earlier this year, Kazakhstan blocked ONGC's purchase of a 8.33 percent stake in the giant Kashagan oil project from ConocoPhillips, which was subsequently sold to China National Petroleum Corp for USD 5 billion.

    ONGC is also looking for exploration assets in Mayanmar, Bangladesh, Lebanon and Australia, a company executive said.

    Also Read:BPCL, HPCL fall on Moily's hint at 'no diesel price hike'

    first published: Sep 25, 2013 04:18 pm

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