INDIA'S STATE-RUN explorer Oil & Natural Gas Corporation (ONGC) has bid for ExxonMobil's 25 per cent stake in Block 31, in Angola's prolific offshore play, according to Junior Oil Minister Jitin Prasada. If successful, ONGC would get a share of equity oil from the block, which is due on stream in 2012. Prasada said planned peak production from the block, operated by BP with 26.7 per cent stake, is estimated at 150,000 bpd. BP-operated Block 31 hosts 19 discoveries, which will be developed in phases.
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