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ONGC Videsh Rumored to be Considering Acquisition of Interests in Four Blocks in Nigeria from Sterling Exploration and Energy: The Deal will Help ONGC Videsh to Increase its International Oil and Gas Asset Portfolio - Deal Analysis from GlobalData

SKU:357771
Publication Date:12.04.2013
Language version:English
Format:PDF
Report Type:Report
Lieferzeit:2-3 Tage
Nr of pages:10 pages
Rating:Für diese Studie liegt keine Bewertung vor.
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Content of the report

Introduction

ONGC Videsh Limited (ONGC Videsh), an overseas arm of Oil and Natural Gas Corporation Limited (ONGC), intends to acquire 25–30% stakes in four onshore blocks in the Niger Delta, namely OPL 277, OPL 280, OPL 2005 and OPL 2006, from Sterling Exploration & Energy Production Company Limited (SEEPCO), an oil and gas company. The story has been reported by the Economic Times, citing a source involved in the negotiations. The transaction is expected to be valued at up to US$2,000 million

Scope

- The report explores the rationale for ONGC's rumored plan to acquire 25–30% stakes in four onshore blocks in the Niger Delta from SEEPCO
- The report also presents potential reasons for SEEPCO to consider divestment of stake in its blocks
- Geography Covered – Nigeria

Highlights

Reasons to buy

- To understand rationale for ONGC's rumored plan to acquire 25–30% stake in four onshore blocks in the Niger Delta from SEEPCO
- To understand the plans of Sandesara, the parent company of SEEPCO, to rope in a strategic partner to increase its oil production in Nigeria