Operator declares force majeure on Mozambique Area 1 LNG Project equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Read more about Operator declares Force Majeure on Mozambique LNG project on Business Standard. OIL is a Sponsor in Area 1 Block, through its 40% shareholding in BREML, which holds a 10% Participating Interest in Area 1. The remaining 60% shares in BREML are held by ONGC Videsh.
Revamp not to impact biz; in talks with global cos for large fields: ONGC business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
April 28, 2021 Oil and Natural Gas Corporation Ltd (ONGC) on Wednesday said it will invite foreign partners to explore the blocks that the firm has been allotted under Category-II and Category-III of the Open Acreage Licensing Policy.
“Intention is to invite foreign participations to explore Category-II and Category-III basins which match size and scale of expectations and portfolio of these large players,” ONGC said in a statement.
Under the licensing policy, Category-II basins are those with contingent resources that are yet to be converted to recoverable reserves. Category-III basins have prospective resources with no hydrocarbon discovery. ONGC owns the licence for one Category-II block in the Cambay basin, as well as two blocks each from the Cauvery and Mumbai Offshore basins, among others under Category-III.