The Kazakhstan government has agreed to consider the proposal of ONGC Videsh Ltd (OVL), a wholly owned subsidiary of the Oil and Natural Gas Ltd.
(ONGC), to acquire a 10 per cent participating interest in the Kurmangazi exploration block in Kazakhstan, provided OVL agrees to fund the Kazakhstan side of the exploration cost.
The Kazakh government is supposed to bear 50 per cent of the exploration cost. If the proposal is accepted, OVL