OVL gets second block in Vietnam

ONGC Videsh (OVL), the offshore arm of ONGC, has been awarded an exploration block - 128 - in the Phu Khanh Basin in Vietnam.

According to a release issued by ONGC to the BSE today, Petro Vietnam has awarded the exploration block to ONGC Videsh with 100% participating interest and operatorship. OVL was earlier awarded block 127 with 100% participating interest and operatorship.

"With the award of blocks 127 and 128 in Vietnam, OVL has consolidated its presence with 45% participating interest in the producing properties of Lan Do and Lan Tay offshore blocks," Subir Raha, chairman of OVL, said.