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Rediff.com  » Business » ONGC, Oil India considering bid for Mozambique gas stake

ONGC, Oil India considering bid for Mozambique gas stake

March 05, 2013 18:24 IST

State-owned Oil and Natural Gas Corp's overseas arm and Oil India Ltd are considering a joint bid for a 20 percent stake in a Mozambique gas field, two sources familiar with the matter told Reuters.

US oil and gas explorer Anadarko Petroleum Corp and Indian billionaire Venugopal Dhoot have launched the auction of a 20 percent stake in Mozambique's Rovuma gas field that could fetch $4.5 billion, sources familiar with the matter told Reuters.

ONGC Videsh head D. K. Sarraf declined comment. Oil India Director Finance T. K. Ananth Kumar said all options were open for the company.

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