OVL plans to exit South China Sea block

According to source-based information, ONGC Videsh plans to exit the hydrocarbon block offered by Vietnam in the maritime region of South China Sea as the bed of the block was very difficult. ONGC Videsh, the overseas arm of ONGC, feels that the cost of operating the block is higher than the benefits and so it is not conducting operation there. However, Vietnam has been requesting OVL to continue its efforts. Contact: ONGC Videsh.Tel: 011-2373 0368. Fax: 011-2373 0369.E-mail: contact@ongcvidesh.inWebsite: www.ongcvidesh.com