India's Oil and Natural Gas Corp is in talks to restart its operations in Libya and to increase production in Venezuela, a company executive said on Friday.
ONGC and Oil India both pulled staff out of Libya in 2011 © Mena Today
India's Oil and Natural Gas Corp is in talks to restart its operations in Libya and to increase production in Venezuela, a company executive said on Friday.
"Once it gets started for Oil India, same applies to us. We are also in the same pact with National Oil Corporation of Libya," Sushma Rawat, director of exploration with ONGC said.
Earlier this week, Reuters reported that Oil India is talks with stakeholders to restart drilling in Libya, 13 years after the company exited the country due to political instability.
ONGC and Oil India both pulled staff out of Libya in 2011.
ONGC is also in talks to increase production in Venezuela, Rawat told reporters on the sidelines of India Energy Week event in Goa.
Oil India, too, is in talks with operators to ramp up oil production in the South American nation, Reuters had reported this week.
The United States had granted sanctions relief for OPEC member Venezuela in October last year in recognition of a deal for elections this year.
However, on Jan. 29 the country began reinstating sanctions on Venezuela.
Rawat also said the company will start drilling in Andaman Islands by the end of the year and Cauvery Delta in South India by this month or March.
The official also said the company needs tax rebates and cost benefits when it goes for exploration in difficult regions.
Reporting by Sethuraman N R and Ashitha Shivaprasad,
In a deal that could redraw regional trade routes and unlock the full potential of Jordan's vast mineral wealth, Amman and Abu Dhabi have signed a landmark $2.3 billion railway agreement, one of the most significant infrastructure partnerships the Middle East has seen in years.
Germany pledged a further 20 million euros ($23.6 million) to Sudan this year, the development ministry said on Wednesday, ahead of an international aid conference hosted in Berlin that is aiming to gather more than $1 billion in funding commitments.
Two arms brokers arranged illegal deals to supply ex-Soviet surface-to-air missile systems to South Sudan and fighter jets to Libya during its civil war, British prosecutors told a London court on Tuesday.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.