ONGC scoops up Vietnam duo

摘要

India's state-owned ONGC Videsh has signed production sharing contracts with state-owned PetroVietnam for Block 127 and Block 128 offshore Vietnam's Phu Khanh Basin.ONGC Videsh will be the operator of the blocks and will have a 100% stake in the acreage. "In the event of a commercial discovery, PetroVietnam, through a wholly-owned affiliate, has the option of obtaining up to 20% participating interest in the blocks," ONGC said.