While OVL on April 16 signed a Joint Operating Agreement and Participation Share Agreement/Assignment Agreement with Kazakhstan's KazMunaiGas Exploration Production to buy a quarter of the Satpayev block, it on Wednesday signed a pactwith the Kazakh government to formally become a part of the concession.
This and the other six agreements seek to boost economic and strategic ties between the two countries.
India's ONGC has lost the giant Kashagan oilfield to the Chinese after Kazakhstan blocked its $5 billion deal to buy US energy major ConocoPhillips' stake in the Caspian Sea oilfield.
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