Sri Lanka ready to nominate OVL for hydrocarbon blocks
February 18, 2011 07:37 am
The Sri Lankan government is willing to award three
hydrocarbon blocks in its northern offshore area to India’s ONGC Videsh Ltd
(OVL) on a nomination basis, in what is being regarded as a diplomatic
breakthrough.
An OVL team is scheduled to visit Sri Lanka shortly for discussions on the C1,
C2 and C3 blocks, which will mark OVL’s entry into the island nation.
The overseas arm of Oil and Natural Gas Corp. Ltd (ONGC) has been trying to
secure blocks on a nomination basis for some time now with the active support
of the Indian government.
“We are working in the Kaveri and Mannar basin and had submitted our proposal
earlier to the Sri Lankan government.
We want these blocks on a nomination basis,” said a senior OVL executive, who
did not want to be identified, Malaysia Sun reports.
