OVL Secures Contract Extension for Vietnam Oil Blocks
OIL & GAS

OVL Secures Contract Extension for Vietnam Oil Blocks

Oil and Natural Gas Corporation Videsh Limited (OVL) has secured a significant contract extension for its oil blocks in Vietnam. This extension allows OVL to continue its exploration and production activities in the region, reaffirming its commitment to expanding its international operations and securing valuable energy resources.

The extension of the contract marks a crucial development for OVL, as it ensures the continuation of operations in these oil-rich blocks. The move is expected to bolster the company's production capabilities and enhance its strategic presence in the Southeast Asian oil market.

Vietnam, with its growing oil and gas sector, represents an important area for international energy investments. OVL?s extended contract will facilitate ongoing exploration efforts and the development of additional oil reserves. This is anticipated to contribute positively to the company?s overall production levels and financial performance.

The extension underscores OVL?s strategic approach to securing long-term assets and maintaining a stable supply of oil. It aligns with the company's broader goals of expanding its global footprint and leveraging international opportunities in the energy sector.

Overall, this development is a positive step for OVL, reinforcing its role in the global oil market and supporting its growth objectives through sustained investment in key international projects.

Oil and Natural Gas Corporation Videsh Limited (OVL) has secured a significant contract extension for its oil blocks in Vietnam. This extension allows OVL to continue its exploration and production activities in the region, reaffirming its commitment to expanding its international operations and securing valuable energy resources. The extension of the contract marks a crucial development for OVL, as it ensures the continuation of operations in these oil-rich blocks. The move is expected to bolster the company's production capabilities and enhance its strategic presence in the Southeast Asian oil market. Vietnam, with its growing oil and gas sector, represents an important area for international energy investments. OVL?s extended contract will facilitate ongoing exploration efforts and the development of additional oil reserves. This is anticipated to contribute positively to the company?s overall production levels and financial performance. The extension underscores OVL?s strategic approach to securing long-term assets and maintaining a stable supply of oil. It aligns with the company's broader goals of expanding its global footprint and leveraging international opportunities in the energy sector. Overall, this development is a positive step for OVL, reinforcing its role in the global oil market and supporting its growth objectives through sustained investment in key international projects.

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?