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Cairn's Rajasthan oil fields may return to ONGC

Last Updated: Sunday, May 25, 2014, 13:38

The Rajasthan Production Sharing Contract (PSC) provides for ONGC becoming the owner of all facilities once their cost is recovered from sale of crude oil, sources said.

ONGC's Mozambique gas field holds larger reserves at 50-70 tcf

Last Updated: Tuesday, May 06, 2014, 18:58

Oil and Natural Gas Corp's (ONGC) giant gas field in Mozambique holds 50 to 70 trillion cubic feet (Tcf) of recoverable reserves, 43 percent more than the minimum estimated resources when it invested USD 4.12 billion.

Cairn India to invest Rs 3,000 cr to improve oilfield recovery

Last Updated: Monday, January 13, 2014, 16:17

The schemes will help recover over 90 million barrels of oil in the Rajasthan block and sustain peak output for a longer time.

Yemen tribesmen blow up major oil pipeline: Officials

Last Updated: Saturday, December 28, 2013, 14:48

he gunmen had planted an explosive device under the pipeline in Hadramawt province, the official said, adding that production had been halted.

ONGC Videsh pulls out of Brazilian oilfield auction

Last Updated: Tuesday, October 22, 2013, 18:24

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, pulled out of an auction of USD 184 billion oilfield in Brazil after it could not stitch an alliance to bid for the giant project.

China buys into giant Kazakh oilfield for $5 bn

Last Updated: Saturday, September 07, 2013, 15:31

China is already involved in a number of oil projects in the vast resource-rich neighbour, which is five times the size of France but has a population of just 17 million.

ONGC may block Chinese bid to buy stake in Brazil oilfield

Last Updated: Monday, August 19, 2013, 18:23

OVL holds 15 percent stake in the block BC-10, known as Parque das Conchas, where Brazilian state-controlled oil firm Petroleo Brasileiro SA or Petrobras is selling its 35 percent stake to Sinopec.

Kuwait discovers new oil and gas field: Official

Last Updated: Monday, July 15, 2013, 21:24

The Gulf state of Kuwait has discovered a new oil and gas field in Kabed area close to the well-known Manageesh oilfield, Hashem Sayed Hashem, CEO of state-owned Kuwait Oil Co said Monday.

Moily hints of relief to RIL on KG-D6 relinquishment issue

Last Updated: Sunday, June 16, 2013, 12:29

In a relief to Reliance Industries, Oil Minister M Veerappa Moily has indicated that he may not fully accept DGH's recommendation for taking away 86 percent of the company's KG-D6 gas block area.

Cairn to drill 48 more wells on Mangala oilfield

Last Updated: Monday, May 13, 2013, 15:51

Cairn India plans to drill 48 wells at a cost of less than USD 100 million on the Mangala oilfield in the prolific Rajasthan block to extend the current production plateau.

OVL raises $800 million to part-finance oilfield in Azerbaijan

Last Updated: Tuesday, April 30, 2013, 13:45

ONGC Videsh Ltd, the overseas arm of state-owned Oil & Natural Gas Corp (ONGC), today said it has raised USD 800 million to part-finance its recent acquisition of interest in an oilfield in Azerbaijan.

DGH wants RIL to give up 86% of KG-D6 area

Last Updated: Sunday, April 28, 2013, 14:22

Oil regulator DGH wants Reliance Industries to give up 86 percent of its KG-D6 gas block area, including 8 gas discoveries worth at least USD 5 billion, saying that the firm has overshot the time allotted to it for developing the area.