Petrobras to leave ONGC block

Brazil's Petrobras has decided to quit Oil and Natural Gas Corp's (ONGC) prolific gas discovery block in the Krishna Godavari basin. The company wants to offload its 15 per cent stake in KG-DWN-98/2 to ONGC as it wants to concentrate on developing massive oil and gas finds back home. Petrobras had put all its resources on developing finds off the Atlantic coast, including the 8 bn barrels Tupi oil find. Contact: Petrobras Website: www2.petrobras.com.br