ONGC Videsh Ltd can participate in Kossor project in Uzbekistan

Vietnam’s PetroVietnam and ONGC Videsh Ltd signed a memorandum of understanding on joint exploration and production of petroleum resources last week.

Within the memorandum, PetroVietnam proposed to Indian company to consider participation in development of hydrocarbon fields at Kossor block in Ustyurt region of Uzbekistan.

Indian company will consider the proposal and f these are of interest, it would make a proposal to PetroVietnam.

PetroVietnam had inked a US$$30-million contract with Uzbekneftegaz in January 2010 to drill three oil wells and conduct 2-D seismic surveys over 2010-2014 to explore for oil and gas across a 5,500 sq km area at the Kossor block.