ONGC Videsh strikes $2.6 billion Mozambique deal

Asian companies compete to secure equity stakes in liquified natural gas in East Africa, with India's ONGC Videsh the latest to reach a deal.

India's state-owned ONGC Videsh has become the latest Asian company to strike a deal in the resource-rich East African region.

ONGC Videsh, the subsidiary that handles the offshore operations for Oil Natural Gas Corp ONGC on Monday agreed to buy a 10% stake in a Mozambique gas field from New York-listed Anadarko Petroleum Corp for a cash price of $2.64 billion.

Asian companies have been competing to secure equity stakes...

To continue reading, please login or register for free

Click for more on: ongc videsh

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...