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Shiv Vani Oil & Gas Exploration Services Jobs
Industry : Petrochemicals Oil Gas Refineries
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ONGC to swap block stakes with Petrobras
BRAZIL'S Petrobras and ONGC have agreed to swap stakes in exploration blocks. To begin with, Petrobras has offered 25-30% stake in three blocks to ONGC in return for a share in three blocks at Mahanadi, Krish-na-Godavari (KG) and Cauvery basins.
According to sources, Petrobras has offered 25-30% stake in Barrierin-has, Sergipe-
Alagoas, and Santos basins. In return, ONGC has expressed its willingness to give between 15% and 40% stake in its three deep-water blocks.
ONGC in a statement said it has reached an agreement with Petrobras 'on swapping of interests in offshore blocks'. It, however, did not
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