ONGC has 20% stake in Sakhlin-1, which is already under production. India is not a participant in the troubled Sakhalin-II project, which is facing Russian government's ire for alleged environmental violations.
PTI adds: OVL may buy stake in Iran, Angola fields
Norsk Hydro has offered ONGC Videsh (OVL) a part of its 80% stake in Aranan field in Iran, an official source said.
The offer was made during the on-going visit of the Norwegian crown Prince to India. Sources said Norsk Hydro has further agreed for participation of OVL in the Angola block in which it has 50% stake.
OVL, in return, has offered Norsk Hydro partnership in two deep water blocks in Cuba, and has sought the Norwegian company's assistance in the development of ONGC's field in the Krishna Godavari basin.
Norsk Hydro has also agreed to detailed exploration technology for the development of the thin oil rim of Vasai east and Bassinn field of western offshore.
