OVL signs MoU with Angolan oil company

ONGC Videsh Ltd (OVL) has signed an MoU with the national oil company of Angola, Sonangol, for cooperation in the exploration sector. OVL, which is partnering Sonangol in the South Pars acreage in Iran, plans to enter joint venture operations in the existing deep water blocks of Sonangol. The company also plans to participate in the next round of bidding for exploration blocks in Angola with Sonangol. Contact: ONGC Videsh Ltd. Tel: 011-2373 0368. Fax: 011-2373 0369. Website: www.ongcvidesh.com