MUMBAI (Thomson Financial) - ONGC Videsh Ltd (OVL), a unit of India's largest exploration company Oil and Natural Gas Corp (ONGC), and Iranian oil major Petropars have approached National Iranian Oil Co (NIOC) about taking a stake in the 30 bln usd Kish gas block in Iran, the Economic Times said, quoting unnamed sources.
OVL has estimated reserves of almost 7 trln cubic feet (tcf) of gas and 1 bln barrels of oil in this block, the report added.
It quoted 'sources in the know' as saying OVL and Petropars have approached NIOC, Petropars' parent, for joint development of Kish. TFN.newsdesk@thomson.com kbo/jro/ak COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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