India's Oil and Natural Gas Corp. (ONGC) is walking a tightrope as it seeks to salvage over $2 billion of investment in Sudan and South Sudan, with a license row rumbling on in one country and production shut down in the other. "The government of Sudan is trying to extract an extra pound of flesh for renewing the lease" for Block 2B, a person familiar with the development told reporters in New Delhi. ONGC's overseas investment unit, ONGC Videsh, had picked up a 25% stake the Greater Nile Oil Project (GNOP), which included Blocks 1, 2 and 4 in the Muglad Basin, in 2003, when South Sudan was still part of Sudan.
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