ONGC Videsh plans to raise $1 bn via dollar bonds issue
Agencies: New Delhi , Nov 21 2012, 17:53 IST
south Caspian Sea, about 95 km off the coast of Azerbaijan, is the largest oil and gas field complex in Azerbaijan and one of the largest producing oil fields in the world.
UK's BP Plc operated field produces around 700,000 barrels a day (35 million tonnes per annum) of crude oil. This is more than India's annual oil production.
OVL's share of output would be over 19,000 bpd or a little less than one million tonnes per annum.
The acquisition would bring 9 per cent additional proved reserves to OVL.
While the AGC field has total reserves of over 6.5 billion barrels, the 1,768-km BTC pipeline is one of the main export routes for Caspian crude oil production to the Ceyhan terminal in the Mediterranean Sea in south east Turkey, with a capacity of around 1.0 million bpd.
Mutual Funds Check for top funds
Stocks More on ONGC Videsh Ltd
Company INFO More on ONGC Videsh Ltd
Previous Story Cipla moves to buy SA's Cipla Medpro Next Story SpiceJet stock gains 7 per cent
Reader's Comments| Post a Comment
Be the first to comment.
