Sudan holds up ONGC Videsh oil field licence extension
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OIL & GAS

Sudan holds up ONGC Videsh oil field licence extension

01 Jan 2017 1 Min Read CW Staff
Sudan is holding up extension to ONGC Videsh´s licence over for Block 2B as the government seeks higher royalties, tax and profit petroleum. OVL, the overseas arm of the state-owned Oil and Natural Gas Corporation (ONGC), in 2003 had bought a 25 per cent stake in Greater Nile Oil Project (GNOP) comprising Block 1, 2 and 4 in the undivided Sudan. It lies in the Muglad basin, about 780 km in the South-West of Khartoum, the capital of Sudan.

Sudan is holding up extension to ONGC Videsh´s licence over for Block 2B as the government seeks higher royalties, tax and profit petroleum. OVL, the overseas arm of the state-owned Oil and Natural Gas Corporation (ONGC), in 2003 had bought a 25 per cent stake in Greater Nile Oil Project (GNOP) comprising Block 1, 2 and 4 in the undivided Sudan. It lies in the Muglad basin, about 780 km in the South-West of Khartoum, the capital of Sudan.

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