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DrillaHill

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DrillaHill

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Thursday, 08/17/2017 6:23:47 AM

Thursday, August 17, 2017 6:23:47 AM

Post# of 1633
New Partner ONGC: investments earmarked for Namibia exploration

ONGC Videsh earmarks $1bn for oil production growth (08/16/17)

"ONGC Videsh, the overseas arm of Indian exploration and production (E&P) major ONGC, is aiming to complete a $1-billion capital expenditure programme during the 2017/18 financial year....The fresh capital investments will be riding on discoveries made in neighbouring Bangladesh, followed by Kazakhstan and Namibia, which the company recently entered."

With the recent farmin of ONGC it seems like drilling is only a question of when not if.
"PEL 0037 Renewal March 2018 but joint venture decision required in December 2017." (p.10)

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